The price of turmeric increased on Tuesday. “Prices of some bags of finger turmeric were increased in all the markets. Only 2,031 bags of turmeric arrived for sale and the buyers purchased all the good quality turmeric among the medium variety, for their local demand. Around 68 per cent of the arrived turmeric was sold. The buyers -- though the price at the Turmeric futures showed upward trend -- cautiously quoted the prices based on its quality”, said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said the second turmeric season started today. The arrival will increase in a week’s time and also the price may go up slightly. Traders are waiting for the good quality turmeric. Due to rain in North India, the demand for the turmeric from there is low now.
At the Erode Turmeric Merchants Association Sales Yard, the finger turmeric was sold at Rs5,119 to Rs6,329 a quintal; root variety was sold at Rs4,629 to Rs5,639 a quintal. Of the arrival of 1,230 bags of turmeric 562 bags were sold.
At the Regulated Marketing Committee, the finger turmeric was sold at Rs5,189 to Rs6,345 a quintal; root variety was sold at Rs4,869 to Rs5,729 a quintal. Of 331 bags, 312 bags were sold.
At the Erode Cooperative Marketing Society, finger turmeric was sold at Rs5,297 to Rs5,899 a quintal and root variety was at Rs4,891 to Rs5,769 a quintal. All 470 bags placed for sale, were sold.