Spot turmeric prices dropped on Monday in Erode as sales and demand continued to be poor.

“Traders and exporters are eagerly awaiting upcountry demand but no significant order has come. We are expecting North Indian orders in a fortnight,” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said that though sales and demand were poor, farmers are holding back huge stocks with them.

Despite projections of a lower crop next season in Tamil Nadu, there would be no shortage.

Further, the production in the country will be lower next year.

On Monday, 3,100 bags of turmeric arrived for sale and 60 per cent were sold. Due to the arrival of quality hybrid finger variety turmeric, the traders quoted higher price and purchased all the 150 bags. At Erode Turmeric Merchants Association sales yard, the finger variety fetched Rs 3,709-5,510 a quintal, the root variety Rs 3,209-4,839.

Salem Hybrid Crop: The finger variety was sold at Rs 4,691-6,466; the root variety Rs 4,389-5,369. Of 650 bags that arrived, 366 were sold.

At the Regulated Market Committee, the finger variety ruled at Rs 4,884-5,647; the root variety Rs 4,678-5,179. Of the 666 bags on offer, 479 were traded.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 4,659-5,687 and the rootvariety Rs 4,379-5,142. All the 655 bags put up for sale found takers.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety fetched Rs 4,999-5,642; the root variety Rs 4,766-5,242. All the 154 bags were sold.

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