Demand for new turmeric increases

Demand for new turmeric has increased with buyers mopping up all offerings in Erode markets on Tuesday.

“Buyers are showing keen interest in new turmeric. All the 1,050 bags that arrived for sale on Tuesday were procured. The arrival of new turmeric in other places such as Nizamabad also increased and sales were high,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.

On Tuesday, 4,700 bags of turmeric arrived for sale and 50 per cent was sold. He said traders will soon get fresh orders from North India.

Growers expect the price to increase, as traders could get fresh enquiries. Regarding the price of the commodity, traders quoted a higher price of ₹500 per quintal for finger turmeric at the Erode Turmeric Traders Association sales yard. They quoted ₹100 a quintal more for the root variety at all sales centres. Poor quality of hybrid turmeric arrived for sale and traders have procured a few bags at a lower price.

At the Erode Turmeric Merchants Association Sales yard, the finger turmeric was sold at ₹6,574 to ₹8,509 while the root variety at ₹699 to ₹7,674.

The finger variety was sold at ₹6,310 to ₹8,069 and the root variety at ₹6,306 to ₹7,574 a quintal. Of the 1,256 bags on offer, 495 were traded.

At the Regulated Market Committee, the finger turmeric was sold at ₹7,055-8,205 and the root turmeric at ₹6,905-7,737. Of the 1,076 bags that arrived, 1,068 were sold. At the Erode Cooperative Marketing Society, the finger turmeric was sold at ₹7,019-8,209 and the root variety was sold at ₹6,896-7,767. Of the 637 bags put up for sale, 580 bags were picked up.

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