Turmeric prices continued to rule firm on quality arrivals. Prices reached Rs 7,000 a quintal on Friday.“After several days prices have touched Rs 7,000 a quintal. Exporters have received little orders from North India for the quality turmeric. So they quoted higher price for the quality turmeric and purchased the same. They also received orders from various parts of North India and to fulfil these orders, the bulk buyers and other traders have procured more than 2,500 bags of the spice” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said that the prices in other markets also showed an upward trend and so the stockists have procured more than 1,000 bags to stock them and sell when the prices increase further. He said the present price of Rs 7,000 will remain for few days and after that there are possibilities of going up to Rs 8,000.
Local traders also purchased meagre quantity to fulfil their local orders.
Due to arrival of fine variety hybrid crop, the finger variety increased by Rs 300 to Rs 7,609 a quintal.
Only 75 bags of hybrid variety turmeric arrived for sale and all the bags were sold. Of the arrival of 5,500 bags, 3,700 found takers.
At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 4,509-7,064; the root variety Rs 4,299-6,069.
Salem Hybrid Crop: The finger variety fetched Rs 5,899-7,609; the root variety Rs 5,477-6,395.
Of the total arrival of 1,320 bags, 540 bags were sold.
At the Erode Cooperative Marketing Society, the finger variety ruled at Rs 5,199-7,099; the root variety Rs 5,319-6,111 . All the 616 bags found takers.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 5,110-6,966; the root variety Rs 4,272-6,219. All the 168 bags were sold.