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Spot turmeric prices edged up on Tuesday on the back of some upcountry orders.
“Arrivals and sales of the spice will be meagre till the polls get over as many farmers are afraid of carrying money with them after the sale. On Tuesday, local traders received some fresh upcountry orders, so they quoted a higher price and purchased 60 per cent of the arrived stock of 4,300 bags. Prices will increase only in mid-May,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
Turmeric price was up ₹200-300 a quintal, as medium quality turmeric arrived for sale. Traders are expecting fine quality turmeric for their committed demand from North India. Turmeric exporters are also awaiting super fine quality as the demand is very high in abroad. At the Erode turmeric merchants Association sales yard, the finger variety was sold at ₹4,770-7,299 a quintal. The root variety fetched ₹4,496-7,069.
Salem Hybrid: The finger variety quoted ₹6,299-7,860; the root variety ₹5,911-7,299. Of the 913 bags that arrived, 569 were sold.
At the Regulated Marketing Committee, the finger variety was sold at ₹6,409-7,537 and the root variety ₹6,380-7,337. Of the 808 bags on offer, 759 were traded.
At the Erode Cooperative Marketing Society, the finger variety ruled at ₹6,299-7,399 and the root variety ₹6,009-7,209. All the 735 bags found takers.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at ₹6,072-7,387 and the root variety ₹6,072-7,137. All the 209 bags were sold.
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