Agri Business

Turmeric dips on higher arrivals

Erode | Updated on March 14, 2011

TURMERIC. File Photo: P. V. Sivakumar   -  Business Line

Thanks to heavy arrivals, spot turmeric prices dipped by Rs 300 a quintal on Monday.

?We are getting good orders, but with the arrivals exceeding the demand, the price of spot turmeric is declining in Erode?, said R. K.V. Ravishankar, President, Erode Turmeric Merchants Association.

According to him, Erode turmeric is still cheaper than in other turmeric areas, and so a number of traders in North India are placing fresh orders. And because of the unrest in Andhra Pradesh due to Telengana issue, and the Nizamabad market not functioning regularly, the buyers prefer Erode stock.

From the beginning of the season, the arrivals in Nizamabad and other North Indian markets have been very low. In contrast, over 20,000 bags have been arriving at the Erode market daily for the past couple of days. This trend will continue till the end of this month, and the price will come down to Rs 10,000 a quintal soon, says Mr Ravishankar.

Keeping these in mind, the bulk buyers in Erode are buying in limited quantities and the other area markets are also selling the produce at a low price. Overall, Erode turmeric is now cheaper than other markets in India, and this will boost the sales.

On Monday, some 20,000 bags arrived for sale, but only 55 per cent of these were sold. The price, therefore, witnessed a a fall of Rs 300 a quintal.

Finger, root varieties

In the Erode Turmeric Merchants Association Sales yard, the finger variety was sold at Rs 8,550-10,750 a quintal, and the root variety at Rs 8,200-10,285 a quintal.

The finger variety fetched Rs 10,869-11,600 a quintal, and the root variety Rs 10,155-10,367. Of the 7,434 bags that arrived, 1,343 bags were sold.

In the Erode Cooperative Marketing Society, the finger variety sold at Rs 9,511-11,311 a quintal, and the root variety Rs 9,150-10,037. Of the 1,035 bags that arrived, 770 bags were sold.

In Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety sold at Rs 9,027-11,257, and the root variety, Rs 7,060-10,279. Eighty-five of the 135 bags that arrived were sold.

In the Regulated Marketing Committee, the finger variety fetched Rs 9,206-10,949, and the root variety, Rs 9,209-10,109. Of the 1,310 bags kept for sale, only 789 bags were sold.

Published on March 14, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like