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Turmeric prices increased on Wednesday on rising demand for the Salem finger variety crop.
“On Wednesday sales was good. The price of spot turmeric improved by Rs 200-300 a quintal. The demand for the finger variety of the Salem crop has increased and consequently its price increased by Rs 680 a quintal. But only 1,200 bags of the Salem crop arrived. Bulk buyers also received enquiries from other parts of the country,” said Mr R. K. V. Ravishankar, President, Erode Turmeric Merchants Association.
He said 60 per cent of the produce that arrived was sold.
“In the fag end of last year season, the turmeric was sold at Rs 17,000/ quintal, but this year the crop is selling ranging from Rs 8,000-9,800/quintal due to higher production” he added.
Sales
The turmeric-growing farmers said last year per month about three lakh bags were sold, and this year the sales was less than two lakh a month due to the poor price. Farmers were not willing to sell the produce below Rs 10,000 and was keeping the stock with them. More than Rs 300 crore worth of turmeric is with farmers now, said the farmers.
In the Erode Turmeric Merchants Association, the finger variety fetched Rs 7,399-9,729/quintal, root variety, Rs 7,199-8,819/quintal.
Salem Crop: Finger variety was sold at Rs 10,006-11,689/quintal, root variety, Rs 9,011-9,491/quintal. Out of the 4,352 bags that arrived at the market for sale, only 600 bags were sold.
In Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 8,307-9,889/quintal, root variety, Rs 7,490-9,366/quintal. All the 252 bags that arrived for sale were sold.
In Erode Cooperative Marketing Society, finger variety was sold at Rs 8,355-9,809/quintal, root variety, Rs 8,099-9,110/quintal. Out of the 1,340 bags that arrived for sale, 1,288 were sold.
In the Regulated Marketing Society, finger variety fetched Rs 9,199-9,789/ quintal. Root variety, Rs 8,839-9,189/quintal. Out of the 887 bags that arrived, 805 were sold.
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