Spot turmeric prices decreased in Erode markets on Monday on account of poor quality arrivals.
“Traders have not yet received upcountry demand. So, they are buying only quality turmeric for local masala and turmeric grinding units by offering a lower price. But the hybrid finger fetched higher price. On Monday, the arrival was 2,800 bags and 55 per cent was sold. Stockists have procured some reasonable quantity,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
Some 350 bags of fine variety hybrid turmeric arrived for sale and traders procured all of them.
The price of the finger variety turmeric declined by ₹150-200 a quintal due to quality and also lack of demand from North India.
At the Erode Turmeric Merchants Association sales yard, the finger turmeric was sold at ₹4,206-6,206 a quintal; the root variety ₹4,003-6,191.
Salem Hybrid: The finger variety was sold at ₹5,941-7,219; the root variety ₹5,549-6,439. Of the 642 bags that arrived, 115 were sold.
At the Regulated Market Committee, the finger turmeric fetched ₹5,534-6,449 and the root variety ₹5,339-6,210. Of the 365 bags on offer, 352 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric ruled at ₹5,573-6,486; the root variety was sold at ₹5,400-6,220. Of the 582 bags put up for sale, 543 were picke up.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric was sold at ₹5,649-6,439; the root variety ₹4,872-6,219. All the 186 bags found takers.
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