The prices of spot turmeric have decreased heavily in Regulated Marketing Committee at Erode on Wednesday. The prices of finger variety shown steady, but the root variety decreased in all markets. The finger variety decreased Rs 700 a quintal and root variety Rs 1,200. This sudden decrease has shocked the growers.

“Because of the two-day holiday for the Nizamabad market, the prices of turmeric are stable in Erode, but the root variety rates have decreased in all the four markets in Erode”, said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said, “Within a month's time the turmeric price has decreased by Rs 5,000 a quintal for want of demand”.

He said the crop sold at Rs 16,000 a quintal on January 7, is now selling at Rs 11,000 a quintal. This is due to non-receipt of demand for the crop. Added to this, the new crop has started arriving to the market, the buyers quoted low prices.

He said that heavy stocks of more than 6,000 bags arrived at the market, but the sales were very poor. Only the bulk buyers purchasing for their orders only and not willing to stock the product.

In Erode Turmeric Merchants Association Sales Yard, finger variety was sold at Rs 8,611-12,811 a quintal, root variety Rs 8,100-11,489 a quintal.

Salem crop-finger variety was sold at Rs 12,450-13,119 a quintal, root variety Rs 11,517-12,395. Out of 2,689 bags arrival, 1,459 were sold.

In Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 9,496 to Rs 12,360 a quintal, root variety Rs 8,090-12,140 a quintal. All the 70 bags arrived were sold.

In Erode Cooperative marketing Society, finger variety fetched Rs 9,567-13,527 a quintal, root variety Rs 9,320-11,921 a quintal. 134 bags out of 193 bags arrived were sold.

In Regulated Marketing Committee, finger variety was sold at Rs 9,669-12,107 a quintal, root variety Rs 8,319-10,367 a quintal. Out of arrival of 362 bags, only 118 were sold.

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