Spot turmeric prices rose slightly even as sales fell drastically despite orders from North India. Bulk buyers in Erode were reluctant to buy and stock more turmeric as they expect prices to fall on heavy arrivals before the month ends or in the beginning of March. They sold off immediately whatever they bought to meet their commitments, said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said, “The arrivals at the Nizamabad market are increasing. Reports of prices being slashed there are affecting the Erode market too. Traders also expect heavy arrival of turmeric in all the four markets in Erode soon.”

Prices in the Regulated Market witnessed an increase of about Rs 400 a quintal for the finger variety and Rs 330 a quintal for the root variety on better local demand. In the Erode Turmeric Merchants Sales yard, the finger variety sold at Rs 8,501-12,786 a quintal and the root variety Rs 8,005-12,639 a quintal.For the Salem variety, the finger variety sold at Rs 12,588-13,589 a quintal and the root Rs 12,459-12,881 a quintal. Out of the 1,622 bags that arrived, 522 were sold.

At the Erode Cooperative Marketing Society, the finger variety sold at Rs 10,089-10,284 a quintal and the root variety Rs 8,814-9,314 a quintal. Only 49 out of the 132 bags that arrived were sold.

At the Regulated Marketing Committee, the finger variety sold at Rs 12,899-13,151 a quintal and the root variety Rs 10,125-12,696 a quintal. Out of the 338 bags that arrived, 226 were sold.

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