• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

L.N. Revathy

Coimbatore , Jan. 4

IT'S a dream come true for the turmeric traders in Erode District, who, for the last two-decades have been searching for an ideal location for establishing a turmeric complex. The complex is to come up at Semmampalayam on the Erode-Nasiyanure Road.

"Land registration work has just commenced. This is expected to be over within the next fortnight," Mr R.K. Viswanathan, a leading turmeric merchant told Business Line.

The State Government has sanctioned Rs 36 crore towards this project. An initial allotment of Rs 11.5 crore has been received for commencing the infrastructural works. "After the registration process is complete we will start the work. The complex would be ready within the next twelve months. In January 2006, we will commence operations from the new complex," Mr Viswanathan said.

The Erode Turmeric Merchants' and Godown Keepers' Association has over 200 merchants as its members.

Considering the current production level, the annual trading volume is expected to touch 9 lakh quintals worth Rs 250 crore.

Reverting to the present scenario, Mr Viswanathan said that the crop has been good in the last three years.

The rates, he said were good at the beginning of the season, with turmeric quoting at Rs 3,500 to Rs 3,700 per quintal. It has since dropped to the Rs 2,800 to Rs 2,900 per quintal levels.

The stock at the beginning of the season is said to be 6 lakh bags of 75 kg each. The all India production is expected to touch 48 to 50 lakh bags and the consumption hovering at 44 lakh bags. Traders anticipate the price to rule around Rs 2,000 and Rs 2,500 per quintal in 2005.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
SBI agri-financing to touch Rs 4,000 cr by March

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line