The Tamil Nadu Government's move to send a team of officials to study the situation in the turmeric buoyed markets on Friday.

According to Regulated Marketing Committee officials, a special team will meet growers, traders to discuss issues such as production, sales, price and acreage.

The team will submit its report to the State Government which will them decide whether turmeric has to be procured at a minimum support price.

This led to some sort of anxiousness among stockists who purchased heavily, leading to prices increasing by Rs 150-200 a quintal.

“Also exporters have received reasonable orders from north Indian towns. Local traders also purchased and of 16,200 bags that arrived, 10,400 were sold,” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

The price of the Hybrid Salem Variety increased by Rs 300 a quintal based on quality. Exporters purchased over 80 per cent of stocks at the Regulated marketing Committee.

Turmeric futures, on the other hand, remained unchanged. Traders

said that the price hike is temporary, as prices may fall on Monday.

At the Erode Turmeric Merchants Association, the finger variety was sold at Rs 2,366-3,599 a quintal and the root variety at Rs 2,311-3,399.

Salem crop : The finger variety was sold at Rs 3,886-4,311 and the root variety at Rs 3,385-3,611. Of 1,988 bags, 1,010 were sold.

At the Regulated Marketing Committee, the finger variety was sold at Rs 3,209-3,709 and the root variety at Rs 3,189-3,529. Of 1,840 bags that arrived, 1,819 bags were sold.

At the Erode Cooperative Marketing Society, the finger variety fetched Rs 3,149-3,969 and the root variety at Rs 3,019-3,459. All the 1718 bags kept for sales were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 3,089-3749 and the root variety Rs 3,026 -3,469. All 439 bags kept for sales were sold.

Related Topics