Spot turmeric prices declined due to the arrival of 11,000 and odd bags for sale on Tuesday.
“Only a few stockists and one or two exporters have procured the turmeric. The market will be closed for five consecutive days from Wednesday and will open on Monday for Rakshabandhan and Aadi 18th festivals. Hence, most stockists and traders keep off trading. Some stockists quoted lower prices but the growers refused to sell at the quoted prices. So only about half the quotes became trades”, said Mr R.K.V. Ravishankar, President, Erode turmeric Merchants Association.
He said both varieties of turmeric were decreased by Rs 100 a quintal. But due to the arrival of fine variety hybrid Salem crop, the prices increased by Rs 200 a quintal. The exporters have
purchased the variety for their orders by paying a higher price. The traders are expecting the prices to increase from next week as they hope to get local orders for the spice.
The farmers said that they are confident of an increase in prices as adverse seasonal conditions and failure of seasonal rains have dragged cultivation.
Prices increased by Rs 150 a quintal at the Erode Cooperative Society as the NAFED and some exporters have purchased the fine variety. Some local traders also purchased the same for their local masala firm orders.
At the Erode Turmeric Merchants Association sales yard, the finger
variety was sold at Rs 3,499-6,639 a quintal, root variety Rs 3,496-5,548 a quintal.
Hybrid Salem Crop: The finger variety was sold at Rs 5,629-7,300 a quintal, root variety Rs 5,488-6,060 a quintal. Of the arrival of 1,719 bags of turmeric 890 bags were sold.
At the Regulated Marketing Committee, the finger variety was sold at Rs 6,046-6,681 a quintal; root variety Rs 5,768-6,291 a
quintal. Of the arrival of 1,404 bags of turmeric, 1,329 bags were sold.
At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 5,616-6,529 a quintal; root variety at Rs 5,789-6,139 a quintal. All the 1,502 bags of turmeric kept for sales were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger verity was sold at Rs 5,869-6,456 a quintal, root
variety Rs 4,372-6,022 a quintal. All the 131 bags of turmeric
kept for sales were sold.