Prices for new stocks of turmeric dropped on Thursday despite buyers showing keen interest in buying new stocks.

“Though the medium quality new turmeric arrived for sale, buyers were keen and bought quoting lower price. The new turmeric fetched ₹100 a quintal lower All the 1,000 bags of new turmeric that arrived for sale were sold. Traders quoted marginally higher price for old turmeric in Regulated market and Erode Cooperative Marketing Society and purchased 55 per cent of the 6,500 bags that arrived,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.

He said traders are still waiting for upcountry demand and are buying limited stock for supply to local masala units. He said there may be fresh demand from the North after the Maha Shivarathiri .

Good quality hybrid root turmeric arrived for sale, so traders quoted higher price of ₹300 a quintal and purchased at ₹7,817. They quoted ₹100 lower for the hybrid finger turmeric. The local turmeric varieties fetched a higher price of ₹100.

At the Erode Turmeric Merchants Association Sales yard, the finger turmeric sold at ₹5,769-8,069 a quintal, the root variety at ₹5,509 to ₹7,561. Salem Hybrid: The finger turmeric sold at ₹6,399-₹8,769 a quintal, the root variety ₹6,300-7,817.

New turmeric variety: The finger variety sold at ₹6,589- 7,900, the root variety at ₹6,499-7,499 . Of the 2,126 bags that arrived, 980 were sold.

At the Regulated Market Committee, the finger turmeric was sold at ₹7,099-8,399 , the root turmeric at ₹6,999-7,739. Of the 1,323 bags on offer, 1,205 were picked up.

At the Erode Cooperative Marketing Society, the finger turmeric fetched ₹7,019-8,319 and the root variety sold at ₹6,669- 7,651. Of the arrival 930 bags put up for sale, 891 bags were traded.

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