Commodities

Spot turmeric shoots up Rs 1,341/quintal

Our Correspondent Erode | Updated on February 18, 2011

BL19_COM2_TURMERIC

Spot turmeric in the Erode Cooperative Marketing Society showed a sudden jump of Rs 1,341 a quintal. In other sales centres also the prices of spot turmeric has increased by Rs 200 to Rs 250 a quintal.

“Due to demand for the old crop, the traders quoted high price and sudden jump of Rs 1,341 a quintal. More than 100 bags of old crop was sold at the increased price,” said the traders. The farmers who bring the old crop to the Erode Cooperative Marketing Society were shocked over the hike in price but happy over the sales at the high price.

The price in other sales centres also showed an increasing trend for both the old and new crops.

“Still demand for the old turmeric crop is high, but for the fresh crop, medium demand is experienced by the traders. So they are buying the old crop,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said, “The sales in other centres also were high like Erode. The buyers are watching the situation and cautiously quoting prices, buying the required quota.” He added that sales also were high for the past two days. The growers and others are keeping very limited old crop with them.

Within a month's time, the new crop has improved by Rs 2,000 a quintal and the price for the same may go up in March, Mr Ravishankar said.

In Erode Cooperative Marketing Society, finger variety was sold at Rs 10,197 to Rs 12,610 a quintal. Root variety Rs 9,396 to Rs 11,475 a quintal. Out of 320 bags kept for sale, 272 bags were sold.

In the Erode Turmeric Merchants Association Sales yard, finger variety was sold at Rs 7,638 to Rs 11,265 a quintal, root variety Rs 7,016 to Rs 10,896 a quintal.

Salem crop finger variety Rs 10,899 to Rs 12,629 a quintal. Root variety Rs 10,616 to Rs 11,117 a quintal. Out of arrival of 3,655 bags, 1,865 bags were sold.

In Gobichettipalayam Agricultural Cooperative marketing Society, finger variety was sold at Rs 10,397 to Rs 12,360 a quintal. Root variety Rs 8,200 to Rs 10,536 a quintal. All the 43 bags kept ready for sale were sold. The finger variety fetched Rs 471 a quintal higher than yesterday's price.

Published on February 18, 2011

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