Commodities

Lower upcountry buying hits turmeric

Our Correspondent Erode | Updated on February 25, 2011 Published on February 25, 2011

BL26_COM2_TURMERIC

Spot turmeric price decreased Rs 100-150 a quintal on lower demand from upcountry buyers. This frustrated growers and they refused to sell their produce at a lower price.

“The demand for the turmeric from other parts of the country has reduced and the bulk buyers did not receive enough orders on Friday, so the price dipped Rs 150-200 a quintal,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association, on Friday.

He said: “The trend may continue for a few more days, but sales will go up next week as the demand in other parts of the country is increasing. The price in other turmeric sales centres such as Nizamabad on par with Erode, so buyers in North India purchased from there.”

On Friday, over 15,000 bags arrived for sale but only 40 per cent were sold.

In Erode Turmeric Merchants Association sales yard, the finger variety fetched Rs 8,306-12,679 a quintal and the root variety Rs 8,009-11,589.

Salem Crop: The finger variety Rs 13,070-14,189 and the root variety Rs 11,665-12,489. Both varieties witnessed a hike of Rs 200-500. Only few bags were sold. Totally 3,759 bags arrived with 1,265 being sold.

In Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety sold at Rs 11,019-12,089 and the root variety Rs 8,999-11,119 and out of 158 bags, 72 were sold.

In Erode Cooperative Marketing Society, the finger variety was at Rs 10,109-12,681and the root variety Rs 9,501-11,349 Of 835 bags, 435 were sold.

In Regulated Marketing Committee, the finger variety was sold at Rs 10,889-12,720 and the root variety Rs 9,689-11,469. Of 1,091 bags, 898 were sold.

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Published on February 25, 2011
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