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Spot turmeric prices in Erode markets increased on Friday on upcountry demand.“After several months the price crossed ₹7,000 a quintal in all the markets. Because of the receipt of some more fresh upcountry demand, traders started buying the turmeric bags and the farmers too brought huge stocks. Traders quoted higher price and procured 3,300 bags against an arrival of 6,500 bags,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
More than 1,900 bags of hybrid turmeric were sold. The hybrid finger turmeric was up ₹300 a quintal and the hybrid root by ₹100. The local turmeric gained ₹250-350. At the Erode Turmeric Merchants Association sales yard, the finger turmeric fetched ₹3,599-7,166 a quintal; the root variety ₹3,427-6,519.
Salem Hybrid: The finger variety was sold at ₹6,095-8,540 and the root variety ₹5,638-6,699. Of the 1,376 bags put up for sale, 1,001 were sold.
At the Regulated Market Committee, the finger turmeric went for ₹6,019-7,389; the root variety ₹5,209-6,643. Of the 1,713 bags on offer, 1,618 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric ruled at ₹5,966-7,146; the root variety ₹5,599-6,642. Of the ,483 bags that arrived, 1,467 found takers.
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