Due to heavy arrival the prices of both varieties of turmeric were decreased. “Suddenly 13500 bags of turmeric arrived for sale, so the traders, stockists and exporters quoted decreased price for the yellow spice. The turmeric grower farmers with much reluctance sold their turmeric at the decreased price. The finger variety was decreased from200 to Rs 500 a quintal and the root variety by Rs 400 a quintal”, said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association. 70 percent of the stocks were sold.
He said the exporters have received few orders, but are hesitating to buy the turmeric due to the fluctuations in price. Further due to heavy rains in North Indian States, they could not forward the stocks. So the exporters are buying very limited stocks. But as usual the stockists have purchased more than 8000 bags of turmeric. He said that all the exporters and traders are expecting fresh orders from North India and after that the prices may remain stable.
He also said in Erode District, some pockets have received rainfall, so the farmers have decided to sow turmeric, though it is already delayed. Because of such sowing the prices of turmeric will decrease further.
Only 25 bags of Salem Hybrid turmeric arrived for sale and all the bags were sold for slight decreased price. At the Erode Turmeric merchants Association Sales yard, the finger variety was sold at Rs 3500 to Rs 6599 a quintal, root variety Rs 3339 to Rs 6164 a quintal.
Salem Hybrid Crop: The finger variety was sold at Rs 6814 to Rs 7500 a quintal, root variety Rs 6164 to Rs 6611 a quintal. Of the arrival of 1953 bags of turmeric, 902 bags were sold.
At the Regulated Marketing Committee, the finger variety was sold at Rs 5968 to Rs 6676 a quintal, root variety Rs 5801 to Rs 6299 a quintal. Of the arrival of 1811 bags of turmeric 1538 bags were sold.
At the Erode Cooperative Marketing Society finger variety was sold at Rs 5860 to Rs 6535 a quintal, root variety Rs 5668 to Rs 6199 a quintal. Of the arrival of 1119 bags of turmeric 1080 bags were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society finger variety was sold at Rs 5780 to Rs 6689 a quintal, root variety Rs 5732 to Rs 6169 a quintal. All the 590 bags of turmeric kept for sales were sold.