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Spot turmeric prices lost ₹200 a quintal in Erode markets on Tuesday as demand from North India dropped and the quality of arrivals was poor.
“For the second consecutive day, prices were on a downward spiral for want of demand. Traders have not yet received any new orders from North India and only poor quality turmeric is arriving for sale. So they purchased only 30 per cent of the 4,700 bags that arrived”, said RKV Ravishankar, President, Erode Turmeric Merchants Association.
On Tuesday, the price of the finger turmeric was down ₹200 in all the four markets. The root variety decreased by ₹100 a quintal.
At the Erode Turmeric Merchants Association sales yard, the finger turmeric was sold at ₹4,199-6,719; the root variety ₹4,119-6,369 a quintal.
Salem Hybrid: The finger turmeric fetched ₹5,456-7,077 and the root variety ₹5,119-6,429.
At the Regulated Market Committee, the finger turmeric quoted ₹5,959-6,799; the root variety ₹5,669-6,412.
At the Erode Cooperative Marketing Society, the finger turmeric was sold at ₹5,934-6,839; the root variety ₹5,639-6,419.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric ruled at ₹5,895-6,699 and the root variety ₹4,750-6,574.
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