A few farmers sold turmeric below Rs 9,000 a quintal on Friday but a majority of them refused to sell.

“On Friday, turmeric markets received a total of 1,721 bags. The highest price quoted was Rs 7,183 a quintal in Regulated Marketing Committee and Rs 6,969 in Erode Cooperative Marketing committee.

Only 25 per cent farmers accepted and confirmed the price.

A majority of farmers did not confirm the price and refused to sell their turmeric for such price.

They told traders that if they quote Rs 9,000, they will sell. But traders were not willing to buy the turmeric for such price, as they have not received any fresh orders from North India. Sales and prices were higher compared with Thursday,” said R.K.V. Ravishankar, President, Erode Turmeric merchants Association.

Fifty-five per cent of the stocks was sold.

Stockists who intended to build inventories purchased almost all the offerings.

At the Regulated Marketing Committee, due to arrival of best varieties of turmeric, prices increased and 90 per cent of the stocks were sold.

At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 4,236-6,659; the root variety Rs 3,634-6,085.

Salem hybrid crop: The finger variety was sold at Rs 5,811-7,300; root variety Rs 5,509-6,471. The arrival was 753 bags and 244 were sold.

At the Regulated Marketing Committee, the finger variety was sold at Rs 6,523-7,183, the root variety Rs 6,089-6,666.

Out of 662 bags, 588 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 5,687-6,839, the root variety Rs 5,400-6,177. Of 47 bags of turmeric, only 21 were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 5,819-6,969, the root variety Rs 5,469-6,429. Of 309 bags of turmeric, 229 were sold.

(This article was published on August 31, 2012)
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