Turmeric gleams as arrivals peter out

Our Correspondent
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Spot prices of turmeric rose by Rs 150-200 a quintal due to poor arrival. “Only 6,400 bags of turmeric arrived for sale on Friday. This may be due to the rain in villages, so farmers could not bring their stocks to the market for sale. Further due to week-end, only limited farmers will usually bring their yellow spice for sale”, said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said that exporters are expecting fresh orders from next week. Of the total arrival, 65 per cent of the stocks was purchased by stockists and traders. He said for the past couple of days Erode and surrounding villages have received rainfall. If the rainfall continues farmers will start their agricultural operations and arrivals will be lower. If fresh orders were received the prices may increase.

Traders said that as on date almost all the stakeholders are having a good stock of turmeric with them. If they receive orders, they will dispose their stocks and then procure fresh stocks by quoting moderate price. The turmeric farmers said that the prevailing prices are feasible for them, but they want more prices for the turmeric. At the Erode Turmeric Merchants Association salesyard, the finger variety was sold at Rs 4,596-6,261 a quintal; root variety at Rs 4,039-5,919.

Salem Hybrid Crop: The finger variety was sold at Rs 5,669-6,711; root variety Rs 5,463- 6,211. Of the 967 bags arrived, 451 bags were sold.

At the Regulated Marketing Committee, the finger variety was sold at Rs 6,016-6,660; the root variety at Rs 5,796- 6,189. Of the arrival of 940 bags, 833 were sold. At the Erode Cooperative Marketing Society, the finger variety fetched Rs 5,718-6,469; the root variety Rs 5,369-6,189. All the 806 bags were sold. At the Gobichettipalayam Agricultural Cooperative Marketing Society finger variety was sold at Rs 5,799-6,500, the root variety Rs 4,200-6,227. All the 129 bags of turmeric were sold.

(This article was published in the Business Line print edition dated August 18, 2012)
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