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Spot turmeric prices decreased at Erode markets on Monday due to poor quality arrival.
“Traders quoted lower price and procured 40 per cent stocks that arrived. Already due to the non-receipt of fresh upcountry demand, the traders were buying little stock. We expect the prices to improve only by mid-August when we will get good demand from North India,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
Of the arrival of 3,500 bags,1,420 were sold. 30 bags of Salem Turmeric also arrived for sale and went for ₹7,800. The price of the finger turmeric was down ₹400 a quintal and that of the root variety by ₹500 . At the Erode Turmeric Merchants Association sales yard, the Salem finger turmeric was up ₹200.
At the Erode Turmeric Merchants Association sales yard, the finger turmeric was sold at ₹4,836-7,555 a quintal; the root variety ₹4,696-7,098. Of the arrival of 724 bags, 190 were sold.
At the Regulated Market Committee, the finger turmeric traded at ₹6,219-7,137 and the root variety ₹5,725-6,599. Of the 539 bags on sale, 473 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric went for ₹6,139-7,156; the root variety ₹6,114-6,978. Of the arrival of 836 bags, 796 found takers.
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