Commodities

65% turmeric stocks unsold as growers seek higher price

Our Correspondent Erode | Updated on July 04, 2011

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At least 65 per cent of turmeric stocks brought to Erode markets went unsold on Monday as growers refused to sell, demanding higher price.

“Only 35 per cent of the turmeric stock that arrived was sold on Monday, as farmers were unwilling to sell their produce at the prevailing price of Rs 8,000-odd a quintal. They expect minimum Rs 9,500 for their produce,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said: “There was no demand for higher price for the spot turmeric. The price in other centres is lower than Erode turmeric, so many North Indian traders placing orders at Nizamabad and Sangli and purchasing the same. The bulk buyers purchasing for the local demand and other committed orders”.

The prices were reduced by Rs 150 a quintal on Monday the opening of the week. The price in Gobichettipalayam Agricultural Cooperative Marketing Society increased around Rs 200 a quintal. At the Regulated Marketing Committee, due to poor quality traders quoted low price. The finger variety was sold at Rs 350 a quintal lower than last week's price.

At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 5,699-8,095 a quintal, the root variety Rs 5,299-7,406.

Salem crop: The finger variety was sold at Rs 7,786-9,089, the root variety Rs 6,996-7,604. Out of the 2,056 bags that arrived, 400 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 6,899-8,310, the root variety Rs 6,968-7,566. All the 201 bags kept for sale were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 6,899-8,110, the root variety Rs 6,839-7,489. Out of 1,009 bags kept for sale, 979 were sold.

At the Regulated Marketing Committee, the finger variety was sold at Rs 7,640-8,060, the root variety Rs 7,160-7,460. All the 227 bags kept for sale were sold.

Published on July 04, 2011

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