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Prices of number eight variety of turmeric dropped by Rs 500-1,000 a quintal on Friday. “At other turmeric sales centres such as Nizamabad, arrivals as well as demand for the crop have increased.
But there was no demand for Erode turmeric from north Indian merchants, so there was no buying,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.
“This is the first time that growers have seen such a steep fall in price for the new crop. Buyers are reluctant about the moisture in the crop, as the weight of the commodity gets reduced by a tenth on drying.”
Ttotal sales of the new variety (number eight) in all the four sales centres were only in double digits.
In the Erode Turmeric Merchants Association sales yard, the finger variety (number eight variety) fetched Rs 10,474-12,980 a quintal and the root variety Rs 10,070-12,929 a quintal. A few of the 1,624 bags that arrived were sold.
The finger variety (old turmeric) sold at Rs 9,200-13,611 a quintal and root variety Rs 9,100-13,461 a quintal. Out of the543 bags that arrived, about 400 were sold.
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