The price of the spot turmeric was increased by Rs 150 to Rs 200 a quintal due to poor arrival. “Only 6400 bags of turmeric arrived for sale on Friday.
This may be due to the rain in villages, so the farmers could not bring their stocks to the market for sale. Further due to week end only limited farmers will usually brought their yellow spice for sale. Some traders those who obtained local orders quoting increased price purchased the turmeric to fulfill their orders.
The prices in the Turmeric futures remain steady”, said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association. He said that the exporters are expecting fresh orders from next week. Of the total arrival 65 percent of the stocks were purchased by the stockists and traders. He said for the past couple of days Erode and surrounding villages have received rainfall.
If the same rainfall continues further the farmers will start their agricultural operations and the arrival of turmeric will be reduced to the market. If fresh orders were received the prices may increase. The traders said that as on date almost all the traders, exporters are having stock of turmeric with them.
If the orders received by them they will dispose their stocks and then procure fresh stocks by quoting moderate price. The turmeric farmers said that the prevailing prices are feasible for them, but they want more price for the turmeric.
To press such demand of fixing a minimum five digit price turmeric the Turmeric Farmers Federation will conduct a conference on August 25th at Erode when they said they will place a demand to Government to fix minimum price of Rs ten thousand to the turmeric per quintal.
At the Erode Turmeric merchants Association Sales yard, the finger variety was sold at Rs 4596 to Rs 6261 a quintal, root variety Rs 4039 to Rs 5919 a quintal.
Salem Hybrid Crop: The finger variety was sold at Rs 5669 to Rs 6711 a quintal, root variety Rs 5463 to Rs 6211 a quintal. Of the arrival of 967 bags of turmeric 451 bags were sold.
At the Regulated Marketing Committee, the finger variety was sold at Rs 6016 to Rs 6660 a quintal, root variety Rs 5796 to Rs 6189 a quintal. Of the arrival of 940 bags of turmeric 833 bags were sold.
At the Erode Cooperative Marketing Society finger variety was sold at Rs 5718 to Rs 6469 a quintal, root variety Rs 5369 to Rs 6189 a quintal. All the 806 bags of turmeric kept for sales were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society finger variety was sold at Rs 5799 to Rs 6500 a quintal, root variety Rs 4200 to Rs 6227 a quintal. All the 129 bags of turmeric kept or sales were sold.