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At least 45 per cent of the turmeric on offer in Erode markets was unsold on Thursday as traders are waiting for the elections to get over.
“Local turmeric traders and exporters have received some upcountry orders, especially for the hybrid variety of turmeric. Many merchants in North India have export orders on hand but are waiting for the new Government to take over at the Centre. Traders are expecting some concessions for exports. Even, turmeric buyers in North India are wary of the strict enforcement of rules by the Election Commission. They are hesitant to carry money to purchase turmeric. Only after election, local traders may receive orders,” said RKV Rravishankar, President, Erode Turmeric Merchants Association.
On Thursday, 4,500 bags of turmeric arrived for sale. Traders bought all the 380 bags of hybrid finger and root turmeric on offer. Overall, 55 per cent of the stock was sold.
Because of the arrival of fine variety hybrid finger turmeric, traders offered a higher price.They procured hybrid finger turmeric at ₹8,609 a quintal. Traders quoted higher price for hybrid root as well. For other varieties, traders quoted ₹300 a quintal higher for quality produce. Turmeric prices have crossed ₹7,000 a quintal in the Regulated Market Committee and Erode Cooperative Marketing society.
At the Erode Turmeric Merchants Association, the finger variety fetched ₹4,806-6,931 a quintal, the root variety ₹4,600-6,529.
Salem Hybrid finger turmeric was sold at ₹6,509-8,609, the root variety at ₹5,750-6,791. Of the 1,290 bags that arrived, 598 were sold.
At the Regulated Marketing Committee, the finger variety was sold at ₹6,109-7,034, the root variety at ₹5,891 -6,789. Of the 488 on offer, 445 bags found takers.
At the Erode Cooperative Marketing Society, the finger variety was sold at ₹6,061-7,000, the root variety at ₹6,019-6,649. All the 462 bags put up for sale were picked up.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety turmeric was sold at ₹5,717-6,919, the root variety at ₹5,177-6,609. All the 247 bags were sold.
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