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Spot turmeric prices decreased at Erode markets due to arrival of poor quality turmeric.
“Only medium and poor quality turmeric arrived for sale. The traders are yet to receive fresh upcountry demand and are buying only fine variety turmeric for their stock. Poor quality hybrid finger turmeric arrived for sale, so the traders purchased at lower price to supply the same to the local turmeric powder manufacturers,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
He said 5,000 bags of turmeric arrived for sale on Wednesday, but only 2,480 bags were sold. 550 bags of new turmeric arrived and all the bags were sold. The price of the hybrid finger turmeric was down ₹700 a quintal and the root turmeric ₹200. Similarly, new turmeric decreased by ₹100.
At the Erode Turmeric Merchants Association sales yard, the finger turmeric was sold at ₹5,791-8,009 a quintal; the root variety ₹5,499-7,489.
Salem Hybrid: The finger turmeric went for ₹6,594-8,859; the root variety ₹6,386-7,579. New turmeric variety: The finger variety was sold at ₹6,519-8,021 and the root variety ₹6,191-7,444. Of the arrival of 1,547 bags, 710 were sold.
At the Regulated Market Committee, the finger turmeric ruled at ₹7,269-8,285 and the root turmeric ₹6,999-7,849. Of the 1,183 bags on offer, 859 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric fetched ₹6,888-8,238 and the root variety ₹6,688-7,540. Of the arrival of 813 bags, 780 found takers.
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