Spot turmeric lost Rs 200 a quintal in the Regulated Marketing Committee due to arrival of medium variety turmeric.
“Almost all the exporters have received upcountry orders and they purchased only after verifying the quality. They procured hybrid variety by quoting increased price. The price of the hybrid variety was up by Rs 400 a quintal due to quality. But in the Regulated Marketing Committee, buyers confirmed only 200 bags against an arrival of 406 bags of turmeric due to quality,” said R. K.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said that for the second day, exporters received some fresh orders from North India and so they are buying. In addition, stockists also purchased as usual quoting marginally higher price.
Of the 1,200 bags of turmeric that arrived, 60 per cent stocks was sold. Stockists purchased 200 bags of this.
At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 4,096-5,569 a quintal, the root variety Rs 3,696-5,031.
Salem Hybrid Variety: The finger variety was sold at Rs 5,667-6,211; the root variety Rs 4,389-5,100.
Of the arrival of 525 bags that arrived, 150 were sold.
At the Regulated Marketing Committee, the finger variety quoted Rs 4,616-5,489 and the root variety Rs 4,384-4,969.
Of the 406 bags put up for sale, there were takers for200.
At the Erode Cooperative Marketing Society, the finger variety fetched Rs 4,548-5,890 and the root variety Rs 3,809-4,973.
All the 167 bags were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 4,869-5,659; the root variety Rs 4,017-4,696.
All the 73 bags were sold.