Hybrid turmeric prices plunged on Friday as stockists seemed to be holding huge inventories.

“Hybrid finger turmeric decreased by ₹450 a quintal and the hybrid root turmeric ₹200. Of the 5,200 bags that arrived, 2,000 bags were hybrid turmeric. All the 2,000 bags sold at a lower price due to arrival of medium quality,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.

He said due to heavy arrival on Thursday, prices decreased. Therefore, farmers brought limited quantity on Friday. Still prices decreased. Some traders said that the quality of arrivals did not match their expectations.

Only traders and exporters procured 60 per cent of stocks on offer and no stockists purchased. Traders said that stockists have huge inventories with them. Traders said that till the end of this month they will buy limited stocks.

At the Erode Turmeric Merchants Association sales yard, the finger turmeric went for ₹4,299-6,359 a quintal, the root variety for ₹4,032-6,256.

Salem Hybrid: The finger variety fetched ₹5,817 -7,069 , the root variety ₹5,500-6,359. Of the 1,125 bags that arrived, 210 were sold.

At the Regulated Market Committee, the finger turmeric sold at ₹5,687-6,569, the root variety at ₹5,537-6,417. Of the 1,654 bags put for sale, 1540 were picked up.

At the Erode Cooperative Marketing Society, the finger variety sold at ₹5,789-6,460, the root variety at ₹5,529-6,289. Of the 1171 bags on offer, 1,161 were traded.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric fetched ₹5,716-6,363 a quintal, the root variety ₹5,569-6,242.

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