The price of turmeric were stable on Thursday. “The arrival of turmeric is still low, but the price is stable. The traders after inspecting the samples, buying limited stock for their requirement alone, without quoting increased price. Only 1,981 bags of medium quality turmeric arrived and 80 per cent it was sold. The traders, for their demand received from masala firms, purchased the turmeric. Due to no increase in price, the farmers brought low quantity of turmeric for sale. The traders, for want of upcountry demand, bought limited stock,” said R.K.V.Ravishankar, President, Erode Turmeric Merchants Association.
He said that the price of the turmeric at the Turmeric Futures remains at minus status, so the traders are reluctant to quote high prices. The traders also expect fresh upcountry demand by next week, and then they may buy more bags and quote increased price based on the quality of the turmeric.
At the Erode Turmeric Merchants Association sales yard, finger turmeric was sold at Rs. 5,199 to Rs. 6,299 a quintal, the root variety was sold at Rs. 4,791 to Rs. 5,791/quintal. Of 1,018 bags of turmeric arrived, 508 bags were sold.
At the Regulated Marketing Committee, finger turmeric was sold at Rs. 5,156-Rs. 6,066 a quintal, root variety at Rs. 4,539-Rs. 5,784 a quintal. Of 542 bags, 527 bags were sold.
At the Erode Cooperative Marketing Society, finger turmeric was sold at Rs. 5,259-Rs. 6,106 a quintal, the root variety at Rs. 4,769 to Rs. 5,899 a quintal. All the 364 bags that were brought, were sold.
At the Gobichettipalayam Cooperative Agricultural Marketing Society, finger turmeric was sold at Rs. 4,789 to Rs. 5,899 a quintal, root variety was sold at Rs. 4,939 to Rs. 5,699 a quintal. Out of 157 bags, 126 bags were sold.