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Spot turmeric prices increased in Erode on Thursday on higher demand. Arrivals and sales were up too.
The price of the new crop increased by Rs 200 a quintal. “The tempo will continue for the next few days,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said, “This increase is because of demand. Further, if the prices increase in Nizamabad, it will improve in Erode also. Futures also showed an upward trend.”
In the Erode Turmeric merchants Association sales yard, the finger (new) variety sold at Rs 9,200-12,667 a quintal and the root variety Rs 7,009-12,479 a quintal.
Old turmeric finger variety sold at Rs 9,501-12,761 a quintal and the root variety Rs 9,16612,581 a quintal. 2,072 bags (86 bags of old variety and 1,986 of new variety) arrived for sale; 461 were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety sold at Rs 10,851-13,851 a quintal and the root variety Rs 10,470-12,486 a quintal. All the 27 bags that arrived were sold.
In the Erode Cooperative Marketing Society, the finger (new) variety sold at Rs 10,29612,325 a quintal and root variety Rs 9,222-12,433 a quintal.
The finger (old) variety fetched Rs 13,195-13,339 a quintal and root variety Rs 10,320-12,777.
In the Regulated Marketing Committee, the finger variety sold at Rs 12,809-13,401 a quintal and root variety Rs 12,405-12,910 a quintal. Out of the 580 bags that arrived, 520 were sold.
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