Spot prices for turmeric decreased on Monday.

“Turmeric price may increase, but not above Rs 10,000 a quintal, from next season starting January 2013”, said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said the production in the current year is high in all the growing centres. So the commodity is selling below Rs 5,800 a quintal in all centres.

In Warangal, the commodity is available at Rs 5,500 a quintal. In Sangli and Nizamabad, the prices were below Rs 6,000. Ravichandran is optimistic and said some orders are expected from North India for fine and medium varieties. Farmers said that they are selling 40 per cent of their produce as they require money for their expenses.

Prices decreased by Rs 200 a quintal in all the four markets and 45 per cent of the 3,200 bags were sold. At the Erode Turmeric Merchants Association, finger variety was sold at Rs 4,606-6,399 a quintal; root variety Rs 3,606-5,785 a quintal.

Salem Hybrid Crop

The finger variety was sold at Rs 5,769-6,666, root variety Rs 5,616- 6,365 a quintal. Of882 bags, 210 were sold. At the Regulated Marketing Committee, the finger variety was sold at Rs 5,369-6,549, root variety Rs 5,189-6,043 a quintal.

Of the arrival of 659 bags, 484 were sold. At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 5,439-6,686 a quintal, root variety Rs 5,369-6,021. All the 21 bags were sold.

At the Erode Cooperative Marketing Society, finger variety was sold at Rs 5,386-6,389, root variety Rs 5,099-6,149 a quintal. Of 692 bags, 632 bags were sold.

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