Commodities

Spot turmeric loses colour on slack demand

Our Correspondent Erode | Updated on August 21, 2014 Published on August 21, 2014




Spot turmeric prices fell on Thursday in Erode market as arrival far exceeded demand. “Only medium variety turmeric arrived for sale. Traders purchased 3,900 bags of the 7,500 that arrived,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.

He said that till Ganesh Chathurthi prices will rule around ₹6,400 a quintal and after that demand is expected from North India.

The price of hybrid finger variety turmeric rose by ₹600 a quintal and hybrid root turmeric gained by ₹200. All the 2,600 bags of hybrid variety turmeric were sold. Other local finger and root varieties fell by ₹200.

At the Erode Turmeric Merchants Association Sales yard, the finger turmeric fetched ₹4,083-6,369 a quintal, the root variety was sold at ₹4,036-6,299.

Salem Hybrid: The finger turmeric was sold at ₹5,677-7,411 a quintal, the root variety at ₹5,499-6,674. Of the 1,505 bags on offer, 451 were sold.

At the Regulated Market Committee, the finger turmeric was sold at ₹5,416-6,429 a quintal, root variety at ₹5,315-6,287. Of the 1,270 bags placed for sale, 1,048 bags were sold.

At the Erode Cooperative Marketing society, the finger turmeric was sold at ₹5,719-6,419 a quintal, the root variety at ₹5,599-6,235. Of the 1,254 bags on offer, 1,199 bags were picked up.

At the Gobichettipalayam Agricultural Cooperative Marketing Society finger variety turmeric was sold at ₹5,516-6,499 a quintal, root variety at ₹4,789-6,249. Of the 485 bags put up for sale, 471 bags were traded.

Published on August 21, 2014
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