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Spot turmeric prices decreased in Erode markets for want of demand. “Still traders have not received upcountry demand and so turmeric prices dropped ₹100-300 a quintal. Only limited stocks were procured by traders,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
He said of the 6,200 bags that arrived, (including 1,300 bags of new turmeric), 3,000 were sold. All new turmeric varieties were sold for a lower price. The new finger turmeric was down ₹200 a quintal and new root turmeric by ₹100. Old turmeric lost ₹200 . The old root turmeric decreased by ₹300-400 in all the markets. Negligible number of bags of Salem turmeric arrived for sale and was sold at ₹9,500.
At the Erode Turmeric Merchants Association sales yard, the finger variety old turmeric was sold at ₹5,936-8,509; the root variety at ₹5,484-7,868.
New turmeric variety: The finger variety went for ₹6,309-8,668 and the root variety ₹6,096-8,019. Of the 2,215 bags on sale, 810 were sold.
At the Regulated Market Committee, the finger turmeric traded at ₹7,013-8,169 and the root turmeric ₹7,019-7,539. Of the arrival of 447 bags, 274 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric was sold at ₹7,197-8,199; the root variety ₹6,789-7,569. All the 676 bags found takers.
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