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Spot turmeric prices decreased in Erode markets on Friday due to slack North Indian demand.“Virtually no trader received fresh orders from merchants in North India and also the price of the yellow spice decreased with the futures market. Local traders selectively purchased fine varieties by quoting a lower price. If traders receive good demand form North India, prices may increase,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
On Friday, 5,400 bags of turmeric arrived for sale and 2,690 were sold.
At the Erode Turmeric Merchants Association, the finger turmeric fetched ₹4,232-6,481 a quintal; the root variety ₹3,899-6,329.
Salem Hybrid: The finger turmeric was sold at ₹5,639-7,369 and the root variety ₹5,364-6,689. Of the 1,277 bags that arrived, 176 were sold.
At the Regulated Market Committee, the finger turmeric ruled at ₹5,639-6,659; the root variety ₹5,531-6,587. Of the 861 bags on offer, 758 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric was sold at ₹5,669-6,485 and the root variety ₹5,567-6,467. Of the 1,275 bags put up for sale, 1,259 were picked up.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric fetched ₹5,481-6,480; the root variety ₹5,019-6,417. Of the 408 bags that arrived, 388 found takers.
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