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Spot turmeric prices in Erode markets decreased on Monday following poor upcountry demand.
“Only two or three orders were received from merchants in North India; so the price of turmeric is declining. Further, turmeric growers, expecting good price for their commodity, brought limited stock,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
He said due to arrival of medium quality hybrid finger turmeric, prices decreased by ₹400 a quintal. Of the 2,400 bags that arrived, 1,180 were sold. At the Erode Turmeric Merchants Association sales yard, the finger turmeric was sold at ₹4,155-6,519 a quintal; the root variety ₹4,009-6,437.
Salem Hybrid: The finger variety fetched ₹5,781-8,189 and the root variety ₹5,589-6,676. Of the 495 bags on offer, only 94 were sold.
At the Regulated Market Committee, the finger turmeric ruled at ₹5,499-6,359; the root variety ₹5,531-6,591. Of the 257 bags on offer, 256 found takers.
At the Erode Cooperative Marketing Society, the finger turmeric was sold at ₹5,739-6,619 and the root variety ₹5,699-6,586. All the 548 bags put up for sale were traded.
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