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Spot turmeric prices fell in Erode on Tuesday despite higher sales.
“Though bulk buyers did not get any fresh orders from North India, they were buying to fulfil local orders. The local masala producers and other turmeric powder grinding units placed some orders to the traders for their day-to-day use, so sales improved on Tuesday. Out of 3,000 bags that arrived, 2000 were sold,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said: “On Tuesday, more than 200 bags of fresh crop arrived at the Nizamabad market and traders are expecting higher arrivals, so there will be no demand for next 15 days from North India. Everyone is expecting further decrease in turmeric price in a couple of days.”
In the Erode Turmeric Merchants Association sales yard, the finger variety sold at Rs 10,500-15,991 a quintal, the root variety Rs 9,667-15,694 a quintal. Out of 1,319 bags that arrived, 415 were sold.
In Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 14,510 to Rs 16,109 a quintal, the root variety Rs 14,210 to Rs 15,819 a quintal. Out of 155 bags, 85 were sold. In Erode Cooperative Marketing Society, the finger variety fetched Rs 15,163 to Rs 15,969, the root variety Rs 14,539 to Rs 15,776 a quintal. All the 299 bags that arrived were sold.
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