Spot turmeric prices declined on Tuesday on the back of higher inflow and slack demand.

“The price of the spot turmeric decreased by ₹100-200 a quintal. But the arrival touched 9,300 bags and only 45 per cent of the stocks were sold. Most buyers were local traders. With an intention to stock the same they purchased the stocks. Some traders were particular in buying the hybrid finger and best quality turmeric,”said RKV Ravishankar, President, Erode Turmeric Merchants Association.

Similarly, the arrival of turmeric bags increased in Nizamabad and on Monday 10,000bags arrived for sale and on Tuesday 30,000 bags arrived for sale, but the sales was only around 50 per cent. Some traders in North India have procured twenty per cent stocks there.

Due to a local festival all the four turmeric markets will be closed for 12 days from Wednesday and would be reopened only on April 7. On Tuesday, due to arrival of super fine hybrid finger turmeric, the traders quoted ₹8,699 a quintal and procured all the 320 bags. This is ₹500 more than Monday’s price.

At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at ₹4,569-6,889; the root variety ₹4,239-6,466.

Salem Hybrid: The finger variety quoted ₹5,877-8,699; the root variety ₹5,719-6,539. Of the arrival of 2,651 bags, 1,361 were sold.

At the Regulated Market Committee, the finger turmeric fetched ₹6,099-6,869 and the root variety ₹5,869-6,469. Of the 1,155 bags on sale, 1,061 were traded.

At the Erode Cooperative Marketing Society, the finger variety was sold at ₹5,899-6,919 and the root variety ₹5,769-6,469. Of the 1,404 bags put up for sale, 1,375 .

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