Thanks to a highly concentrated trading communities and locational advantages, Unza is the largest APMC in the Asia. Daily turnover in various commodities at Unza APMC, is whopping Rs 2,500 crore a day, which rises to over Rs 7,000 per day during its peak season in April each year.

Traders say, currently, there is a crisis of confidence in a market that has witnesses, several defaults during last couple of weeks. The recent default by a Pune-based firm, one of the oldest in the cummin trade, proved as a last straw on the camel's back. Some 25 odd Unza based traders have lost as much as Rs 20 crore. Traders and brokers have become extremely cautious and not willing to commit the trade, even with closest alies, said Mr Jayantilal Guru, a prominent trader as well as crop fore-caster.

``Buyers will have to bring cash, if they want to procure goods,'' Mr Guru said adding ``traders are fast losing trust. For the castorseed, traders refrain to sell seeds even to the most reputed exporters''.

While some exporters have defaulted in the past, some financially sound firms are paying extra low prices. They are capitalizing their goodwill, but at the same time exploiting the traders. In either case, traders are on the receiving end. As regards isabgul, stockists and speculators are facing a problem as demand is dull and new crop is almost doubling, but liquidity is fast drying up. The severe drought in the state has affected purchasing power. Marginal farmers are offloading cash commodities at throwaway prices. For example, guar prices have fallen to Rs 1,000 per quintal, from the peak of Rs 3,000 a quintal few months back, while castorseed prices plummeted to Rs 1,150 from the June 2000's peak of Rs 1,800 a quintal. Sesame seed prices have fallen to Rs 380 from the recent peak of Rs 550 a 20 kg.

It is difficult to provide bid and ask quotes. Despite falling prices, farmers are offering their produce. While the payment crisis and speculative losses have affected the business, speculative tendency remains still intact. Despite the lean season, turnover is seen significantly higher, thanks to credibility and unique auction system. Auction takes place at 11 pm and it is highest money that matters. Neither family relations, nor friendship, it is only money that will close out the deals.

(The writer works with e-Mecklai.com. The views are his own)