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Prices of hybrid turmeric varieties increased nearly 10 per cent in Erode markets on Thursday. Prices of other local varieties, too, increased by Rs 200.
“The hybrid Salem crop showed an increase of Rs 650 a quintal, as the finger variety of Salem hybrid turmeric was sold at Rs 9,100 a quintal, which is Rs 650 a quintal higher than Wednesday's price.
“Similarly the root variety increased by Rs 500/quintal. Because of the demand for the hybrid variety, the buyers purchased it by paying good price,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
The price of spot turmeric increased by Rs 200/quintal in local markets. Out of the arrival of 7,500 bags, 60 per cent were sold.
The price of spot turmeric in the market also went up, as buyers quoted high price to fulfil their local orders.
But farmers expecting a higher price for their turmeric brought large stocks to the Erode Cooperative Marketing Society and sold 70 per cent of the stock. Similarly the price increased by Rs 700/quintal in Regulated Marketing Committee, as the buyers obtained orders from local masala companies.
The prices were stable in all the markets at Erode. The sales increased as bulk buyers received local orders, said Mr Ravishankar. The prices of both varieties of turmeric are expected to fluctuate till end of July and after that they may go up, he added.
At the Erode Turmeric Merchants Association Sales yard, finger variety sold at Rs 5,636-7,499/quintal and root variety at Rs 5,325-6,511/quintal.
Salem crop: Finger variety sold at Rs 6,696-9,100/quintal and root variety at Rs 6,289-7,277/quintal. Out of the 1,339 bags that arrived, 525 were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety sold at Rs 5,001-7,246/quintal. Root variety sold at Rs 4,769-6,469/quintal. All the 120 bags kept for sale were sold.
At the Erode Cooperative Marketing Society, the finger variety fetched Rs 6,149-7,699/quintal, root variety Rs 5,399-6,589/quintal. Out of arrival of 1,171 bags, 921 were sold.
At the Regulated Marketing Committee, the finger variety sold at Rs 7,686-8,279/quintal and root variety at Rs 6,438-6,690/quintal.
Out of the 432 bags that arrived, 325 were sold.
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