Spot turmeric prices rose Rs 300 a quintal on Tuesday on slack arrivals.
“Spot turmeric increased Rs 300. as bulk buyers purchased limited stocks to cater to their pending orders and they received no fresh orders besides poor arrivals,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said: “The market is not stable in other centres. In fact, the prices are seeing a downtrend in Sangli and Nizamabad. This has reflected here.” Buyers quoted marginally higher price, but seeking high prices, growers confirmed meagre percentage of goods for low price.
On Tuesday, about 14,000 bags were received and only 35 per cent goods were sold.
Farmers said that they will sell the produce if the price reaches Rs 10,000 and therefore, they are bringing limited stock.
In the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 7,300 to Rs 9,455 a quintal.
Root variety Rs 6,799 to Rs 8,579.
Salem Crop : The finger variety fetched Rs 9,374 to Rs 9,909 and the root variety Rs 8,459 to Rs 9,039. Of the total arrivals of 4,713 bags, only 417 were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 8,227 to Rs 9,819, the root variety Rs 7,880 to Rs 9,105. Of the 354 bags that arrived, 316 were sold.
At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 8,579 to Rs 9,809, the root variety Rs 8,510 to Rs 9,191. Of the 1,349 bags that arrived, 1,334 were sold. At the Regulated Marketing Society, the finger variety fetched Rs 9,377 to Rs 9,709, the root variety Rs 8,539 to Rs 8,911. About 735 bags were sold out of 820 bags.