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Spot turmeric dropped by Rs 100 a quintal further on Tuesday following poor demand.
“Most of the traders are not getting fresh orders from other States, especially North India. So, turmeric price is decreasing every day. On Tuesday, the hybrid finger variety decreased by Rs 300 a quintal and the hybrid root variety by Rs 500. Similarly, prices have dropped below Rs 5,000 a quintal,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
At the Erode Turmeric Merchants Association sales yard, traders purchased only 20 per cent of the stocks, whereas in other centres, sales were around 60 per cent of the total stock of 8,500 bags which were offered on sale.
At the Erode Turmeric Merchants Association Sales yard, the finger variety was sold at Rs 3,911-4,915 a quintal, the root variety Rs 3,636-4,381 a quintal. Salem Crop : The finger variety was sold at Rs 4,546-5,269, the root variety Rs 4,068-4,511. Totally, of the 2,052 bags kept for sales, 424 were sold.
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