Continuing lack of new orders from North India brought down spot turmeric to Rs 6,134 a quintal on Thursday. Generally, new orders are placed by the second week of August. Arrivals, too, dropped to 7,800 bags — of which 65 per cent was sold — as rain in some villages disrupted transport.
“The yellow spice was sold at Rs 6,639 a quintal on July 31, increased slightly, but then decreased sharply in two or three days. Within a fortnight, there has been a decrease of Rs 500 a quintal,” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said on behalf of a turmeric grower federation a conference would be conducted here on August 25. The Union Agriculture Minister, Sharad Pawar, is expected to attend the meeting. Farmers said that they hope to pass a resolution fix a minimum support price at Rs 10,000 a quintal. Stockists quoted lower for purchases as they have already covered enough. Traders expect they’ll get North India orders next week.
At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 3,836 to Rs 6,134 a quintal and the root variety at Rs 3,369 to Rs 5,775 a quintal.
Salem hybrid crop : The finger variety was sold at Rs 6,121 to Rs 6,769 a quintal, the root variety at Rs 5,985 to Rs 6,122 a quintal. Of the 1,273 bags that arrived, 687 were sold.
At the Regulated Marketing Committee, the finger variety was sold at Rs 5,767 to Rs 6,271 a quintal and the root variety at Rs 5,369 to Rs 5,919 a quintal. Of the 799 bags that arrived, 690 were sold.
At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 5,169 to Rs 6,152 a quintal, the root variety at Rs 5,034 to Rs 5,980 a quintal. All the 1,030 bags kept for sale were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 5,799 to Rs 6,269 a quintal, the root variety at Rs 5,536 to Rs 5,972 a quintal. All the 144 bags kept for sale were sold.