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The price of the spot turmeric decreased by Rs 200 a quintal, due to heavy arrival and is selling below Rs 6,000 a quintal.
“Expecting good price and sales, many turmeric growers have brought their commodity to the market, but the prices were not increased, instead decreased. This is due to the heavy arrival of the turmeric. More than 10,000 bags of turmeric arrived and the sales were around 50 per cent,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association. He said on Monday everyone expected to get fresh orders, but unfortunately no fresh orders were received by the traders. The prices quoted in the turmeric futures also showed an increase to Rs 5,850 a quintal, did not reflect for the spot turmeric for want of demands. The farmers who require money are selling their turmeric at low price. Still, the farmers are hopeful of getting at least Rs 7,500 a quintal, but the traders said definitely it will not touch Rs 7,000 a quintal again, as they said they are not getting any heavy orders and also they are expecting another bumper crop in 2012 also.
On Monday, turmeric price decreased by Rs 200 a quintal in the Erode Turmeric Merchants Association sales centre and also in the Gobichettipalayam Agricultural Cooperative Marketing Society. The root variety sowed another deep decrease of more than Rs 400 a quintal.
At the Erode Turmeric Merchants Association, the finger variety was sold at Rs 3,766 to Rs 5,609 a quintal, root variety Rs 3,466 to Rs 5,057 a quintal.
Salem Crop
Finger variety was sold at Rs 5,169 to Rs 6,309 a quintal, root variety Rs 4,316 to Rs 5,211 a quintal. Out of total arrival of 2,637 bags, 400 bags were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 3,709 to Rs 5,772 a quintal, root variety Rs 3,331 to Rs 4,838 a quintal. All the 286 bags arrived for sales were sold.
At the Erode Cooperative Marketing Society, finger variety was sold at Rs 4,351 to Rs 5,751 a quintal, root variety Rs 4,038 to Rs 5,199 a quintal. Out of arrival of 1,346 bags, 1,251 bags were sold.
At the Regulated Marketing Committee, finger variety was sold at Rs 5,389 to Rs 5,714 a quintal, root variety Rs 4,869 to Rs 5,129 a quintal. Out of 1,238 bags kept for sales, 1,080 bags were sold.
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