Agri Business

Turmeric prices decline in all markets

Our Correspondent Erode | Updated on September 28, 2020 Published on September 28, 2020

“The prices of the finger and root variety turmeric decreased by ₹250 a quintal in all the four markets at Erode on Monday, the opening day of the market, compared to last weekend’s market report. This decrease is due to poor upcountry demand and also the quality of the turmeric. The traders have received some local demand from the turmeric powder grinding units and also from ‘masala’ firms,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.

He said that for the past three-four years, the upcountry demand for Erode turmeric has see a decline as many Merchants in North India have started buying turmeric from Maharashtra and Andhra Pradesh, where the prices rule lower than Erode Market.

The arrival of turmeric for sale was also low, as only 1,811 bags arrived, 65 per cent of which turmeric was sold. At the Gobichettipalayam Agricultural Cooperative Marketing Society, only 50 bags of turmeric arrived and were sold.

Turmeric futures prices remain on a negative trend, and were not reflected at the spot turmeric sale and quoting price by traders.

The finger turmeric price decreased by ₹250-300 a quintal in all markets and the root variety was also decreased by ₹150 when compared to last week.

At the Erode Turmeric Merchants Association sales yard, finger turmeric was sold at ₹5,211-6,189 a quintal, while the root variety was sold at ₹4,500- 5,569 a quintal. Of the 1,220 bags that arrived, only 466 bags were sold.

At the Regulated Marketing Committee, finger turmeric was sold at ₹4,711-5,729 a quintal, and the root variety at ₹4,329-5,489 a quintal. Of the 237 bags that arrived, 215 bags were sold.

At the Erode Cooperative Marketing Society, finger turmeric was sold at ₹4,944-6014 a quintal, and the root variety was sold at ₹4,891- 5,659 a quintal. Of 304 bags placed for sale, 284 bags were sold.

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Published on September 28, 2020
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