Buyers’ preference for turmeric from Warangal in Andhra Pradesh to the one grown in and around Erode, led to further fall in the spice’s prices on Thursday.
“The price is low in all the turmericmarkets, prices decreased by Rs 150 a quintal on Thursday in Erode markets due to want of demand from North India.
Some traders, however, bought first grade turmeric from Warangal for a lower price.R.K.V. Ravishankar, President, Erode Turmeric Merchants Association, said that traders are stocking them.They are expecting fresh orders from September 15. Arrivals in the four markets have started increasing. On Thursday, out of 3,790 bags that came up for sale, 2,421were sold. Some farmers demanded Rs 9,000 a quintal.Farmerssaid that they have more than 25 lakh bags of turmeric stock. With just 90 trading days to go this year, such huge stocks can not be sold. They said if the price increases by Rs 1,000 more for a quintal they will bring more quantity for sale.
At the Erode Turmeric Merchants Association Sales yard, the finger variety was sold at Rs 3,419-6,664, the root variety at Rs 3,399-5,960.
Salem hybrid Crop
The finger variety sold at Rs 6,014-6,884, the root variety Rs 5,711-6,290. Of 1,438 bags 285 were bought off.
At the Regulated Marketing Committee, the finger variety was sold at Rs 5,536-6,929, the root variety at Rs 5,369-6,288. Of 884 bags that arrived, 759 offers were accepted. At the Erode Cooperative Marketing Society, the finger variety fetched Rs 5,309- 6,666.
The root variety was quoted at Rs 5,100-6,199. All the 1,228 bags of turmeric kept for sale were sold.