The prices of the finger and root varieties of turmeric have decreased sharply.
“Only few orders were received from North India and also they prefer quality turmeric. But for the past few days no fine first variety turmeric has been arriving for sale. So the traders have quoted decreased price of Rs 200 a quintal for finger variety and Rs 400 for root variety, purchasing the same. The fine varieties were kept in godowns by the farmers, decided to bring them when the prices improved,” said Mr R.K.B. Ravishankar, President, Erode Turmeric Merchants Association.
He said the prices in other main markets such as Nizamabad and Sangli, and also in the turmeric futures have decreased more than Rs 300 a quintal, which reflected here. The traders quoted low price for the commodity. Further, the purchase by stockists has decreased, as only one or two stockists are buying the turmeric now. The exporters those who received orders exclusively for quality turmeric are buying limited quality stock.
The traders said soon the southwest monsoon will start, so there will be no chance for increase in turmeric price. They said they will not get orders during the monsoon period, so they are now buying very limited quantity.
On Monday, 14,850 bags arrived for sale, but only 55 per cent of the stocks were sold.
Salem Crop: The finger variety was sold at Rs 3,784-4,119 a quintal, root variety Rs 3,281-3,711. Out of arrival of 2,938 bags, 1,028 bags were sold.
At the Regulated Marketing Committee, the finger variety was sold at Rs 3,219-3,689, root variety Rs 3,069-3,479. Of the 1,654 bags kept for sales, 1,439 were sold.