Agri Business

Northern demand sends turmeric up

Our Correspondent Erode | Updated on February 17, 2011

BL18_COM2_TURMERIC_POWDER

Turmeric farmers were a happy lot on Thursday as the spot price increased by Rs 500 a quintal.

“Demand for turmeric from North India is still pouring in for Erode traders, so the spot prices increased by Rs 400 to Rs 500 a quintal on Thursday,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.

“During this year, the price has touched Rs 11,000 a quintal, which has made turmeric growers happy. Similarly, arrival touched 14,000 to 15,000 bags a day on Thursday, which is the highest arrival during 2011.”

Mr Ravishankar said the arrival will decrease by 30 per cent hereafter, but the prices may remain unchanged. In fact, he said, the price will rise further as demand from North India has increased. Some traders expect the prices to touch Rs 13,000 to Rs 14,000 a quintal in April first week.

In the Erode Turmeric Merchants Sales Yard, finger variety fetched Rs 8,633 to Rs 11,105 a quintal, root variety Rs 86,03 to Rs 10,814.

Salem Crop-Finger variety was sold at Rs 11,191 to Rs 12,411 a quintal, root variety at Rs 10,687 to Rs 11,617 a quintal. Out of arrival of 5,973 bags, 1,785 bags were sold.

In Gobichettipalayam Agricultural Marketing Society, finger variety was sold at Rs 10,319 to Rs 11,889 a quintal, root variety Rs 9,000 to Rs 10,519 a quintal. All the 27 bags that arrived were sold.

In Erode Cooperative Marketing Society, finger variety was sold at Rs 9,701 to Rs 11,333 a quintal, root variety at Rs 9,201 to Rs 10,839 a quintal.

In Regulated Marketing Committee, finger variety fetched Rs 10,339 to Rs 11,269 a quintal, root variety at Rs 9,887 to Rs 10,684 a quintal. Out of arrival of 1,054 bags, 1,022 bags were sold.

Published on February 17, 2011

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