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Spot turmeric prices in Erode markets continued to decline. In the last one month, the yellow spice has lost ₹1,000/quintal.“Within a month’s time, the price of the turmeric decreased by ₹1,000. This steep decline is due to want of upcountry demand. Further, farmers brought only medium and poor quality turmeric,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
Because of arrival of poor quality, the price of the Hybrid finger turmeric dropped by ₹200 and the other varieties by ₹100-200 a quintal. On Friday, of the 3,300 bags that arrived, 1,600 bags were sold. Of this, stockists procured over 600 bags. At the Erode Turmeric Merchants Association, the finger turmeric was sold at ₹4,032-6,326 a quintal; the root variety ₹3,699-5,926 .
Salem Hybrid: The finger turmeric ruled at ₹5,617-6,610 and the root variety ₹5,374-6,199. Of the 642 bags put up for sale, 129 were sold.
At the Regulated Market Committee, the finger turmeric fetched ₹5,566-6,204 and the root variety ₹5,299-6,169. Of the 719 bags on offer, 653 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric was sold at ₹5,800-6,389; the root variety ₹5,668-6,181. All the 726 bags found takers.
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