Spot turmeric prices in Erode markets are dropping due to slack North Indian demand and arrival of poor quality hybrid finger turmeric. RKV Ravishankar, President, Erode Turmeric Merchants Association, said that many traders prefer quality hybrid turmeric. The hybrid finger turmeric was sold at ₹8,509 a quintal on July 18, but within ten days the price decreased by ₹1,700.

He said traders in Erode are still waiting for orders from North India and so are buying limited stocks. Of the 3,500 bags that arrived, 1,710 were sold. At the Erode Turmeric Merchants Association sales centre, the finger turmeric was sold at ₹4,199-6,469 a quintal; the root variety at ₹3,719-6,261.

Salem Hybrid: The finger turmeric fetched ₹5,469-6,799 and the root variety ₹5,499-6,479. Of the 609 bags on sale, 92 were sold.

At the Regulated Market Committee, the finger turmeric ruled at ₹5,653-6,690; the root variety ₹5,569-6,418. Of the 631 bags that arrived, 495 were traded.

At the Erode Cooperative Marketing Society, the finger turmeric was sold at ₹5,689-6,404; the root variety ₹5,369-6,396. All the 1,005 bags were traded.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric was sold at ₹5,791-6,449 and the root variety ₹5,789-6,439. All the 242 bags found takers.

e-trading

The Government is seriously thinking of introducing the e-trading or e-auction in the Regulated Marketing Committee either at Avalpoondurai or Perundurai.

Ravishankar said, “There are some problems for buyers from other States over the e-trading or e-auction of turmeric. Only the upcountry traders prefer the quality turmeric which could not be examined in the e-trading system.”Meanwhile, the Agricultural Business wing officials said that already construction for conducting sale and stocking of turmeric is being made at Karumandichellipalayam in Perundurai and proposals were placed before the Government for starting e-trading system.

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