The price of the spot turmeric increased by Rs 200 per quintal. “The arrival of turmeric increased to 4,800 bags on Wednesday, as usual the stockists alone purchased the turmeric by quoting a higher price. The prices in Erode and Gobichettipalayam Cooperative marketing Societies decreased by Rs 150 a quintal due to quality,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said, “This is the first time in the history of the century-old turmeric market at Erode that the stockists have purchased about 80 per cent of the total arrival. So far 50 lakh bags (each bag is 75-kg) were sold in the market of which more than 35 lakh bags were procured by the stockists.”
Some farmers said that because of Aadi Ammavasai they brought huge stocks and for the same reason the stockists also purchased 80 per cent of the arrived stocks. The traders said that certainly the prices will go down, so they have not purchased the crop now. At the Erode Turmeric Merchants Association Sales yard, the finger variety was sold at Rs 3,119 to Rs 5,319 a quintal, root variety Rs 3,111 to Rs 5,017 a quintal.
The finger variety was sold at Rs 4,734 to Rs 6,509 a quintal, root variety Rs 4,611 to Rs 5,369 a quintal. Of the arrival of 877 bags , 453 bags were sold.
At the Regulated Marketing Committee, the finger variety was sold at Rs 5,339 to Rs 5,816 a quintal, root variety Rs 4,460 to Rs 5,096 a quintal. All the 457 bags of turmeric arrived for sales were sold. At the Erode Cooperative Marketing Society, the finger variety fetched Rs 4,859 to Rs 5,797 a quintal. Root variety was quoted at Rs 4,600 to Rs 5,290 a quintal. All the 866 bags of turmeric kept for sales were sold. At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 4,800 to Rs 5,693 a quintal, root variety Rs 4,416 to Rs 5,059 a quintal. About 106 bags kept for sales were sold.