Spot turmeric prices decreased by Rs 600 a quintal as traders were having adequate stocks with them and stockists also were not interested in building up inventories.

“Though the traders and exporters are getting good orders from North India, they quoted lower prices on Monday, as almost all of them have adequate stock. Only one more auction is to be conducted on Thursday during this fiscal. So, no trader is willing to build up inventories and purchased meagre quantity of the spice, ” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said after several months, 10,000 bags of turmeric arrived for sale on Monday. So traders quoted lower price. They also procured only 40 per cent of the arrived stock.

Even the stockists have purchased limited quantity.

At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 4,699-7,669 and the root variety Rs 4,699-6,598.

Salem Hybrid Crop: The finger variety fetched Rs 6,667-8,229 and the root variety Rs 6,177-7,100. Of the arrival of 1,215 bags, only 406 were sold. At the Regulated Market Committee, the finger variety quoted Rs 6,371-7,576, the root variety Rs 6,069-6,869. Of the 1,088 bags arrived, only 408 found takers.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 6,090-8,559; the root variety Rs 5,757-6,969. Of the 196 bags arrived, 160 bags were sold. At the Erode Cooperative Marketing Society, the finger variety fetched Rs 6,229-8,189 and the root variety Rs 5,989-6,809. Of the 876 bags, 696 were traded.

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