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Spot prices of Salem Turmeric ruled steady at Erode markets as traders preferred the variety and purchased all the 250 bags. However, other varieties showed a dip in prices owing to increased inflow.
“On Thursday, 10,000 bags of turmeric arrived for sale and fifty per cent of the stocks were sold for lower price,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
Buyers purchased all the 2,000 bags of the new turmeric also by quoting higher price. Because of heavy arrival the traders have purchased very limited medium variety turmeric. The price of the Salem Turmeric was up ₹300 a quintal, while the local turmeric gained ₹200-300. The new turmeric is selling at ₹300 more than the old turmeric.
At the Erode Turmeric Merchants Association sales yard, the finger variety old turmeric was sold at ₹4,591-8,388 a quintal and the root variety ₹4,194-7,649.
New turmeric variety: The finger variety went for ₹6,558-8,668; the root variety ₹6,307-7,814. Salem Turmeric: The finger variety was sold at ₹7,088-10,528; the root variety ₹6,709-8,050. Of the total arrival of 2,937 bags, 1,215 were sold.
At the Regulated Market Committee, the finger turmeric went for ₹7,491-8,590; the root turmeric ₹6,693-7,744. Of the 1,694 bags on sale, 1,300 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric fetched ₹7,469-8,499 and the root variety ₹6,669-7,699. Of the 1,678 bags offered, 1,580 found takers.
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