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Spot turmeric prices declined on Monday on the back of poor quality arrivals.
“Traders are receiving new orders from North India every day, but for want of quality traders quoted lower price. The demand for the hybrid finger was high, but only medium variety arrived. So, traders quoted only ₹7,800 a quintal which was ₹1,800 less than last week’s price. Buyers have procured all the 300 bags of hybrid finger turmeric,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
In the Erode Cooperative Marketing Society, some bags of finger turmeric fetched the highest price of ₹7,309 , ₹200 more than last week’s price.
At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at ₹4,599-6,985 and the root variety ₹4,619-6,824 a quintal.
Salem Hybrid: The finger variety fetched ₹6,067-7,800; the root variety ₹5,817-7,214 a quintal. Of the 1,366 bags that arrived, 1,007 were sold.
At the Regulated Market committee, the finger variety quoted ₹6,460-7,266 and the root variety ₹6,299-7,080. Of the 810 bags offered, 785 found takers.
At the Erode Cooperative Marketing Society, the finger variety was sold at ₹6,399-7,309; the root variety ₹6,191-7,159. Of the 1,159 bags on sale, 1,133 were traded.
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