Spot turmeric prices at Erode decreased due to arrival of medium and low quality turmeric.
Traders said that the arrival has gone down to 3,500 bags on Monday. Only few traders have participated in the auction sale, but they quoted lesser price due to the quality. Some traders purchased only the hybrid turmeric by quoting decreased price, due to arrival of medium variety hybrid variety while the rest .purchased the spice to stock them. Few stockists also purchased the commodity.
The turmeric exporters said that they are having few orders for quality variety, but on Monday only medium variety turmeric arrived for sale, so they purchased few bags for their local orders. Further, the futures declined .
The turmeric growers said that due to incessant rain in their villages, they could not bring fine variety and they brought limited stocks for sale. Of the arrival of 3,500 bags, only 40 per cent stocks were sold.
The finger variety was down Rs 100-250 , similarly the root variety also decreased by Rs 250 a quintal.
At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 4,061-6,341; the root variety Rs 4,011-5,434.
Salem Hybrid: The finger variety fetched Rs 5,717-6,869 and the root variety Rs 4,811-5,714. Of the 754 bags arrived, only 292 were sold.
At the Regulated Market Committee, the finger variety quoted Rs 5,389-6,202 and the root variety Rs 4,334-5,499. Of the 797 bags on sale, 424 found takers.
At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 4,820-6,227 and the root variety Rs 4,761-5,509. All the 227 bags were traded.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety fetched Rs 5,339-6,090; the root variety Rs 4,789-5,496. All the 49 bags were sold.