Spot turmeric prices decreased further in Erode markets on Thursday on the back of poor quality arrivals. Over half of the 2,600 bags that arrived found no takers.

“Because of the downward spiral in prices, farmers brought only 2,600 bags on Thursday. Of this, only 45 per cent was sold. A major portion was bought by stockists. Traders purchased limited stock as they have not yet received reasonable demand from North India,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.

He said that traders in Erode are buying limited but quality stock for supply to a few merchants in North India to fulfil their committments. On Thursday, due to arrival of poor quality hybrid finger turmeric, the price decreased by ₹400 a quintal. Similarly, other turmeric varieties were down ₹200-300.At the Erode Turmeric Merchants Association, the finger turmeric was sold at ₹4,279-6,339a quintal; the root variety ₹3,799-5,934.

Salem Hybrid: The finger variety was sold at ₹5,755-6,466 and the root variety ₹5,515-6,055. Of the 887 bags that arrived, 176 were sold.

At the Regulated Market Committee, the finger variety quoted ₹5,669-6,369 and the root variety ₹5,559-6,112. Of the 417 bags on offer, 410 were traded.

At the Erode Cooperative Marketing Society, the finger turmeric fetched ₹5,899-6,289; the root variety ₹5,177-6,120. All the 419 bags found takers.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric was sold at ₹5,842-6,469 and the root variety ₹5,117-5,809. All the 28 bags were traded.

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