Agri Business

Turmeric prices decline due to poor demand

Our Correspondent Erode | Updated on May 24, 2011

turmeric

The turmeric grower-farmers were unhappy over the decrease of spot turmeric prices on Tuesday.

“The farmers were totally dejected over the declining trend of the spot turmeric prices. The prices had decreased heavily due to want of demand,” said traders.

They also said on Tuesday there was a decrease of Rs 1,190 a quintal in the finger variety of Salem crop and Rs 580 a quintal in root variety. Similarly, in the Gobichettipalayam Agricultural Coop Society, the prices decreased by 680 a quintal in finger variety and Rs 980 a quintal in root variety. Because of the sudden fall in prices, many farmers were shocked and some did not accept the price, and even took back the commodity without selling. Similarly, turmeric faced a decrease of Rs 300 a quintal in the Erode Cooperative Marketing Society.

Though bulk buyers attended the market, they did not purchase stocks. Only few traders purchased turmeric with an intention to despatch the goods to Bihar and Madhya Pradesh. The traders said, “Due to rains in the last week of April, more than 2 lakh bags of turmeric were affected. The rain-affected (slightly soaked turmeric) turmeric is arriving in the market, and is being quoted a low price.

At the Erode Turmeric Merchants Association sales yard, finger variety fetched Rs 6,500-8,089 a quintal, root variety Rs 6,200-7,031 a quintal.

Salem Crop: Finger variety was sold at Rs 7,689-8,469 a quintal, root variety at Rs 6,534-7,369 a quintal. Out of total arrival of 3,983 bags, only 350 bags were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 4,527-7,719 a quintal, root variety at Rs 4,110-6,869 a quintal. Out of arrival of 163 bags, 151 bags were sold.

At the Erode Cooperative Society, finger variety was sold at Rs 6,109-7,709 a quintal, root variety at Rs 5,839-7,011 a quintal. Out of arrival of 1,030 bags, 780 bags were sold.

At the Regulated Marketing Society, finger variety was sold at Rs 7,189-7,831 a quintal, root variety at Rs 6,299-7,110 a quintal. 870 bags were kept for sale, 762 bags were sold.

Published on May 24, 2011

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