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The price of turmeric increased on Thursday.
“The traders received upcountry and local demand for the turmeric and purchased more than 1,600 bags of turmeric,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
He said that the farmers have stocks of more than 15 lakh bags of turmeric. Farmers said that the price may touch ₹8,000 a quintal by the end of November and ₹9,000 in 2015.
On Thursday, price of turmeric was increased by ₹200-300 a quintal. But the price of hybrid finger turmeric was decreased by ₹100 due to quality.
Only six bags of turmeric arrived for sale in the Gobichettipalayam Agricultural Cooperative Marketing Society, so the auction was not conducted here on Thursday.
At the Erode Turmeric Merchants Association Sales yard, finger turmeric was sold at ₹3,177-6,389 a quintal, root variety at ₹3,166-5,656.
Salem Hybrid: Finger turmeric fetched ₹5,594-6,576, root variety ₹4,709-5,930. Of the arrival of 526 bags, 97 bags were sold.
At the Regulated Market Committee, finger turmeric was sold at ₹5,538-6,699, root variety at ₹5,289-6,089. Of the 980 bags offered for sale, 938 bags were picked up.
At the Erode Cooperative Marketing Society, finger turmeric was sold at ₹5,899-₹6,519, root variety at ₹4,698-6,059. Out of the 401 bags that arrived, 271 were sold.
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