Demand from North India pushed up spot turmeric by Rs 150-300 on Tuesday. The fine hybrid variety was up Rs 700 a quintal.

“Exporters quoted higher, as they have received orders from North India. All the 200 bags of the fine hybrid variety were sold,” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said prices may increase further, as demand is likely to persist. Sales in other centres have decreased and many North Indian traders are placing orders at Erode. Farmers are bringing more than 5,000 bags a day. On Tuesday, 4,900 bags arrived for sale, of which 70 per cent stocks was sold.

The spice increased by Rs 150-300 a quintal in the four markets here. Stockists purchased a tenth of the arrivals.

At the Erode Turmeric Merchants Association, the finger variety was sold at Rs 4,111-5,889 a quintal, the root variety at Rs 4,016-5,109 a quintal.

Salem hybrid crop: The finger variety fetched Rs 5,399-7,019 a quintal, the root variety Rs 4,611-5,400 a quintal. Of the 1,263 bags that arrived, 60 per cent was sold.

At the Regulated Marketing Committee, the finger variety was sold at Rs 4,419-5,789 a quintal, the root variety at Rs 4,209-5,429 a quintal. Of the 796 bags that arrived, 760 were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 5,091-6,089 a quintal, the root variety at Rs 4,487-5,459 a quintal. All the 926 bags kept for sale were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 4,507-6,139 a quintal, the root variety Rs 4,410-5,275 a quintal. All the 365 bags kept for sale were sold.

(This article was published on November 6, 2012)
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