Spot turmeric prices improved by Rs 200 a quintal on Thursday following improved sales.

“Little improvement was seen in the futures market and low prices were quoted for the past one week. On Thursday, sales were slightly improved and prices increased by Rs 150-200 a quintal,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said some buyers placed orders with Erode traders for dyeing purpose. They bought soaked (affected slightly by the rain) turmeric at low price and dispatched it to Bihar and Madhya Pradesh. On Thursday, out of 6,800 bags that arrived, 30-40 per cent stocks were sold.

Farmers said they are ready to hold back turmeric till prices improve to Rs 9,500-10,000 a quintal. But traders said it is not possible now. But prices may touch around Rs 9,500 in August-September. At the end of the season by December, the product may touch Rs 11,000-12,000, depending on the arrival. At the Erode Turmeric Merchants Association, the finger variety was sold at Rs 5,229-8,119 a quintal, the root variety Rs 5,100-6,661.

Salem crop : The finger variety was sold at Rs 7,691-8529, the root variety Rs 6,091-6,811. Of the 2,709 bags that arrived, 350 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 4,859-7,419, the root variety Rs 4,681-6,451. All the 150 bags that arrived were sold.

At the Erode Cooperative Marketing Society, the finger variety fetched Rs 5,859-7,699, the root variety Rs 5,669-6,618. Of the 688 bags that arrived, 575 were sold.

At the Regulated Marketing Committee, the finger variety was sold at Rs 7,419-8,189, the root variety Rs 6,138-6,889. Of the 591 bags that arrived, 555 bags were sold.

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