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The price of spot turmeric was improved by Rs 600-750 a quintal in Erode on Friday and the price reached Rs 11,000 a quintal after one week.
“Because of the closure of the market for seven days continuously from Saturday, buyers purchased heavy stocks to fulfil their orders. Because of the competition among bulk buyers, the prices were improved by Rs 600-750 a quintal,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said, “The other markets, including Nizamabad, are steady and there was no change in price quoted in futures, so the buyers purchased the produce at Erode. The farmers were happy due to increased price and also heavy sales. Out of the stocks of about 15,000 bags arrived 70 per cent were sold.”
In Erode Turmeric Merchants Association sales yard, finger variety was sold at Rs 8,199 to Rs 11,065 a quintal, root variety Rs 8,009 to Rs 10,400.
Salem Crop: Finger variety was sold at Rs 10,791 to Rs 12109 a quintal, root variety Rs 9,509 to Rs 10,520. Out of arrival of 6,354 bags, 719 bags were sold.
In the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 9,966 to Rs 10,969 a quintal, root variety Rs 9,538 to Rs 10,588. Out of arrival of 536 bags, 535 bags were sold. In Erode Cooperative Marketing Society, finger variety was sold at Rs 9,999 to Rs 11,010 a quintal, root variety Rs 9,868 to Rs 10,789. Out of 1,041 bags kept for sale, 1,037 bags were sold.
In the Regulated Marketing Committee, finger variety was sold at Rs 10,366 to Rs 11,146 a quintal, root variety Rs 10,139 to Rs 10,700. About 1,437 bags were kept for sale, 1,378 bags were sold.
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