Spot turmeric increased by Rs 150 a quintal on Thursday on por arrivals.
“Because of arrival of 10,000-odd bags, both varieties of turmeric have increased slightly. Further the increase in price is also due to the arrival of ‘quality' turmeric. So the traders and stockists have quoted increased price, and purchased 60 per cent of the arrived stock,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
He added that arrivals are usually below 10,000 bags between June and July 15.
Even at the time of peak price period the arrivals were low. This year due to low price the stockists have made heavy purchases. He said that all the bulk buyers and exporters are waiting for orders from North India.
The turmeric farmers have brought fine variety turmeric for sale and all such fine variety goods were sold.
For the second day, the price for the finger variety turmeric touched a high at Rs 4,111 a quintal in Erode Cooperative Marketing Society and Rs 4,058 a quintal in Gobichettipalayam Agricultural Cooperative Society.
The hybrid Salem variety increased by Rs 525 a quintal due to arrival of super fine finger variety. All the bags of this variety were sold.
At the Erode Turmeric Merchants Association Sales yard, the finger variety sold at Rs 2,299-3,609 a quintal, root variety at Rs 2,232-3,385 a quintal.
Salem Crop: The finger variety sold at Rs 3,295-4,444 a quintal, root variety at Rs 3,117-3,475 a quintal. Of the arrival of 1,729 bags of turmeric, 1,028 bags were sold.
At the Regulated Marketing Committee, the finger variety sold at Rs 3,291-3,789 a quintal, root variety at Rs 3,279-3,728 a quintal. Of the 1,388 bags that arrived, 1,312 bags were sold.