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Spot turmeric prices in Erode markets decreased by ₹200 a quintal following a decline in the futures market.
“Turmeric futures slid by 2-4 per cent in the last two sessions; so traders quoted lower price and purchased some stocks of turmeric. Though traders have not yet received huge upcountry orders, they are buying little quantity of turmeric with an intention of storing it . Most of the traders have showed interest in buying the quality root turmeric,” said RKV Ravishankar, President of Erode Turmeric Merchants Association.
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