Spot turmeric prices witnessed downtrend today on lack of buying support from North India.

“Turmeric exporters here failed to get fresh orders from Assam and other North-eastern States due to unrest there. Usually during this season Erode exporters will get orders from these places. Further, many North-based traders have purchased at Rs 4,000-4,500 a quintal some days back. Now that they have built the stocks, they are now conducting resale policy of bringing the already procured turmeric to the market in north India and selling them for Rs 6,000 and odd. So they are not placing any fresh orders now”, said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said only 5,000 bags of turmeric arrived for sale. The turmeric grower farmers are expecting increased prices and hence holding back their produce. Similarly, only the stockists have purchased the turmeric. Of the arrival of 5,000 bags, only 60 per cent were sold.

Prices showed a slight decrease of Rs 100 a quintal, including the hybrid variety for want of demand.

At the Erode Turmeric Merchants Association Sales yard, the finger variety was sold at Rs 3,499-6,409 a quintal, root variety at Rs 3,109-6,139.

Salem Hybrid Crop: The finger variety fetched Rs 6,209-6,819 , root variety Rs 6,199-6,499. Of the 721 bags that arrived, 371 were sold.

At the Regulated marketing Committee, the finger variety was sold at Rs 6,172-6,625;root variety Rs 5,867-6,316. Of the 544 bags arrived, 435 bags were sold.

At the Erode Cooperative Marketing Society, finger variety was sold at Rs 5,779-6,444, root variety at Rs 5,472-6,200.All the 620 bags of turmeric were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety fetched Rs 5,369-6,469, root variety Rs 5,121-6,181. All the 85 bags were sold.

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