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Hybrid turmeric prices in the spot market fell Rs 200 a quintal despite good demand.
“Turmeric prices did not improve even though a few bulk orders were placed. The hybrid variety, which is fetched good orders and rose on Monday, decreased on Tuesday by Rs 200 a quintal. In the Erode Turmeric Merchants sales yard, it shot up by Rs 310 a quintal,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.
Rising futures failed to lift prices in the local market on Tuesday, he said. Bulk buyers expect more demand from north Indian merchants from the first week of August, he added.
While the spice dropped by Rs 300 a quintal at Erode Cooperative Marketing Society, it remain unchanged at Gobichettipalayam Marketing Society. It increased by Rs 200 a quintal at Regulated Marketing Committee, where 65 per cent of the 7,000-odd bags that arrived were sold. In the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 5,489-7,299 a quintal and the root variety at Rs 5,311-6,316.
Salem Crop: The finger variety was sold at Rs 6,633-7,689 and the root variety at Rs 6,139-6,666. Only 327 of the 1,814 bags that arrived were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety fetched Rs 6,460-7,419 and the root variety Rs 5,760-6,760.
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