Spot turmeric prices dropped as farmers brought inferior quality produce for sales on Friday. Further, lack of north Indian export orders, too, aided the trend.
“Traders were not able to quote higher for turmeric as only the medium variety turmeric was brought. Even hybrid crop fetched lower price for want of good quality. Further, exporters have not received fresh orders from North India and are eagerly waiting for the orders. We expect upcountry orders within next 10 days or after Diwali.”, said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 4,066-5,695 a quintal, the root variety Rs 4,011-5,211.
Of 1,065 bags on offer, only 300 found takers.
At the Regulated Marketing Committee, the finger variety fetched Rs 4,399-5,719; the root variety Rs 4,466-5,419.
Of the 980 bags that arrived, 868 found buyers.