Lack of orders grinds turmeric

Lack of orders from North India and inferior quality of arrivals pulled down spot turmeric on Tuesday despite lower arrivals.

“We expected that the exporters will get adequate orders from North India, but were disappointed as only one or two orders were received. So the bulk buyers quoted lower prices. Some traders and stockists quoted last week’s price,Traders fulfilled orders received from local spices firms” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said 6,000 bags arrived , of which 60 per cent were sold. He added that they expect to get fresh orders within a week, when the prices may increase. He said due to low quality arrivals, the minimum price decreased to Rs 3,700 a quintal, as against Rs 4,500 last week. The Salem hybrid variety rose by Rs 200 a quintal on quality arrivals.

Many farmers expecting a hike in price brought limited stocks. At the Erode Turmeric Merchants Association Sales yard, the finger variety fetched Rs 3,709 to Rs 6,334 a quintal, the root variety Rs 3,009 to Rs 6,177 a quintal.

Salem hybrid crop: The finger variety was sold at Rs 6,211 to Rs 6,919 a quintal, the root variety at Rs 6,080 to Rs 6,395 a quintal. Of the 798 bags that arrived, 427 were sold.

At the Regulated Marketing Committee, the finger variety was sold at Rs 6,139 to Rs 6,611 a quintal, the root variety at Rs 5,900 to Rs 6,272 a quintal. Of the 956 bags that arrived, 814 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 5,369 to Rs 6,489 a quintal, the root variety at Rs 4,696 to Rs 6,300 a quintal. At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 5,858 to Rs 6,449 a quintal, the root variety at Rs 5,169 to Rs 6,229 a quintal. All the 1,000 bags kept for sale were sold.