Tepid demand pulls down turmeric

Spot turmeric prices declined over Rs 250 a quintal on Monday on tepid demand. “As turmeric traders did not get enough orders, prices started decreasing Rs 200 to Rs 300 a quintal,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association, on Monday.

But he added that this was a temporary fall. “The Nizamabad market opened on Monday after a holiday. Based on prices there on Monday, they may vary in Erode from Tuesday. Arrivals have also started increasing in Erode. On Monday, about 8,500 to 9,000 bags arrived. Sales were around 60 per cent. Bulk buyers bought the most to fulfill orders from North Indian merchants,” said Mr Ravishankar.

At the Erode Turmeric Merchants Association Sales yard, the finger variety sold at Rs 8,016-11,201 a quintal and the root variety Rs 7,819-10,810. The finger variety dipped Rs 250.

Salem Crop: The finger variety fetched Rs 12,000-13,071 and the root variety Rs 10,719-11,400. The price of the finger variety gained Rs 400 a quintal because of its quality. About 30 bags were sold for a higher price.

Out of the 2,545 bags that arrived, 649 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety fetched Rs 9,697-12,060 and the root variety Rs 8,110-11,536. Twenty-seven of the 37 bags that arrived were sold.

At the Erode Turmeric Cooperative Marketing Society, the finger variety sold at Rs 9,425-12,610 and the root variety Rs 9,301-10,890. Out of the 232 bags that arrived, 172 were sold.

At the Regulated Marketing Committee, the finger variety fetched Rs 9,900-11,380 and The root variety Rs 8,037-11,117. Out of the 654 bags that arrived, 482 were sold. Seventy per cent of the bags that arrived were of number eight variety, which fetched a maximum of Rs 11,380 a quintal, Rs 300 a quintal less than last week.