Spot turmeric prices decreased by Rs 200 a quintal despite lower arrivals on Monday.

However, the hybrid variety fetched good price.

“All the traders were disappointed as only 5,200 bags arrived for sale on Monday.

So, traders quoted lower price and purchased very limited stocks” said R.K.V. Ravishankar, President of Erode Turmeric Merchants Association.

He said all the traders have received only nominal orders from North India and are buying fine variety turmeric.

They also competed in buying the hybrid variety. Of the total arrival of 5,200 bags only 50 per cent stocks was sold.

Chenniappan, a veteran grower, said that due to hot weather, they brought only limited stocks. Also, currenty they have both medium and fine varieties.

Farmers have decided to sell the medium variety now and will bring the fine variety after a couple of days.

He said the current price is unfeasible as the production cost is increasing.

He hoped that within a month, the price will touch Rs 10,000 a quintal.

At the Erode Turmeric Merchants Association Sales yard, the finger variety was sold at Rs 4,499-7,565; the root variety Rs 4,196-6,589.

Salem Hybrid crop: The finger variety was sold at Rs 6,229-8,611 the root variety Rs 5,506-6,911. Of the total arrival of 1,079 bags, 492 were sold.

At the Regulated Market Committee, the finger variety was sold at Rs 6,653-7,699; the root variety Rs 5,691-6,687. Of the arrival of 262 bags put up for sale, 212 found takers.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 6,689-7,789.

The root variety sold at Rs 5,911-6,837. All the 558 bags of turmeric on offer were sold.

At the Gobichettipalayam Cooperative Marketing Society, the finger variety was sold at Rs 6,809-7,979; the root variety Rs 5,550-6,697.

All the 99 bags of turmeric were sold.

(This article was published on April 8, 2013)
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