Spot turmeric decreased by about Rs 1,000 a quintal on Wednesday.

“There is no demand from North India for the Erode turmeric and the price decrease witnessed in the Sangli and Nizamabad markets also reflected in Erode spot price. The buyers here quoted low price, but not willing to settle for the price, most of the farmers refused to sell their produce”, said Mr R.K.V. Ravishankar, President, Erode Turmeric merchants Association, on Wednesday.

“Usually during the election, the North Indian traders will not buy or take orders from buyers. Even they will not open the shops in Bihar, Orissa, Maharashtra and West Bengal.

Now election is on at West Bengal, which is one of the bulk turmeric consumers. So the bulk demand for the commodity had sharply decreased and automatically the prices declined”, he added.

Turmeric grower-farmers, expecting increased prices, brought more than 15,000 bags on Wednesday, but due to low rate many farmers did not confirm the sale.

In connection with the Traders Day, to be observed today, the Turmeric Market declared holiday and the next sale of turmeric would be conducted tomorrow.

At the Erode Turmeric Merchants' Association sales yard, finger variety was sold at Rs 7,199-8,989 a quintal and root variety at Rs 7,009-8,239 a quintal.

Salem Crop: Finger variety was sold at Rs 9,139-10,310 ; root variety at Rs 8,009-8,722 a quintal. Out of total arrivals of 4,765 bags, 505 bags were sold.

In Gobichettipalayam Agricultural Cooperative Marketing society, finger variety was sold at Rs 7,507-9,169; root variety at Rs 7,369-8,420 a quintal. Out of 406 bags, 339 bags were sold.

In the Erode Cooperative Marketing Society, finger variety was sold at Rs 7,559-9,225;, root variety at Rs 7,346-8,502 a quintal. Of the 1,528 bags , 1,382 bags were sold.

In the Regulated Marketing Committee, finger variety fetched Rs 8,639-9,292; root variety at Rs 7,989-8,409 a quintal. Out of 1,449 bags arrived, 1,042 bags were sold.

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