Spot turmeric prices in Erode markets dropped marginally on Monday following sluggish upcountry demand. However, demand for the root variety increased.

“Prices in the futures market dropped 2 per cent on Saturday and this reflected in the spot market on Monday. Traders quoted lower price. Further, merchants in North India have stopped giving orders. Current prices will prevail for a few more days. Prices may rise around the middle of this month when traders are expected to get fresh demand,” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

Farmers brought only 3,000 bags for sale on Monday and 60 per cent was sold including the new crop.

Only the medium quality finger variety turmeric arrived for sale. Similarly, the hybrid root variety prices rose by ₹300 and sold at ₹7,014 a quintal.

At the Erode Turmeric Merchants Association Sales yard (new crop), the finger variety was sold at ₹5,894-6,595; the root variety ₹5,891-6,469. (Old Crop) The finger variety was sold at ₹4509-6,596 and the root variety ₹4,319-6,594.

Salem Hybrid: The finger variety fetched ₹6,091-7,191; the root variety ₹5,809-7,014. Of the 795 bags that arrived, 288 were sold.

At the Regulated Market Committee, the finger variety was sold at ₹5,687-6,589 and the root variety ₹5,539-6,539. Of the 573 bags put up on sale, 469 were traded.

At the Erode Cooperative Marketing Society, the finger variety quoted ₹5,784-6,669; the root variety ₹5,364-6,642. Of the 146 bags offered, 125 were traded.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety fetched ₹5,099-6,599 and the root variety ₹4,579-6,311 a quintal. All the 76 bags on offer were picked up.

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