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Turmeric prices in Erode were on a declining trend amid weaker demand and higher stocks. “For want of demand from the merchants of North India, the buyers are keen on buying only fine variety turmeric. Some traders buy medium quality hybrid finger turmeric and local varieties to supply them to local masala firms. North Indian merchants, including exporters, are having good number of stock of turmeric with them and hence are reluctant to place any fresh orders”, said RKV Ravishankar, President, Erode Turmeric Merchants Association.
On Friday, 3,200 bags of turmeric arrived for sale and 1,598 were sold. At the Erode Turmeric Merchants Association sales yard, the finger turmeric fetched ₹3,900-6,019 a quintal; the root variety ₹3,559-5,616.
Salem Hybrid: The finger turmeric was sold at ₹5,038-6,259 and the root variety ₹4,799-5,739. Of the 643 bags that arrived, 198 were sold.
At the Regulated Market Committee, the finger turmeric was sold at ₹5,439-6,285 and the root variety ₹5,074-5,994. Of the 593 bags on offer, 474 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric went for ₹5,469-6,210 and the root variety ₹5,469-5,915. Of the 420 bags on sale, 386 were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric fetched ₹5,069-6,300 and the root variety ₹4,900-6,013. All the 291 bags found takers.
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