Poor upcountry orders pound turmeric

Spot turmeric prices decreased on Monday on the back of fresh upcountry orders lacking and inferior quality of arrivals.

“Despite poor arrivals, prices declined and sales also remained at 45-50 per cent of offerings. This was due to non-receipt of fresh upcountry demand. We are expecting fresh demand only after Holi . Further, only medium variety turmeric is arriving for sale. Even Salem turmeric variety was sold at ₹9,200 a quintal. Only 40 bags of Salem turmeric arrived and 20 were sold,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.

For want of demand, the price of new turmeric decreased by ₹100-200 a quintal. Traders purchased all the 700 bags of new turmeric. The finger turmeric lost ₹500 in the Regulated Market Committee and ₹200 in the Erode Cooperative Marketing Society.

At the Erode Turmeric Merchants Association sales yard, the finger variety old turmeric was sold at ₹6,119-8,550 a quintal and the root variety ₹5,809-7,944.

New turmeric variety: The finger variety fetched ₹6,786-8,766; the root variety ₹6,536-7,817. Of the 1,449 bags that arrived, 408 were sold.

At the Regulated Market Committee, the finger turmeric went for ₹7,237-8,134; the root turmeric ₹6,923-7,801. Of the 774 bags on sale, 700 were sold.

At the Erode Cooperative Marketing Society, the finger turmeric was sold at ₹7,419-8,400 and the root variety ₹6,799-7,799. Of the 625 bags offered, 618 found takers.At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric was sold at ₹6,590-8,312 and the root turmeric ₹5,690-7,328. All the 49 bags were traded.

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