Commodities

Turmeric drops below Rs 16,000/quintal

Our Correspondent Erode | Updated on January 10, 2011 Published on January 10, 2011

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Spot turmeric prices decreased further on Monday and dropped below Rs 16,000 a quintal.

“Due to severe cold wave in North Indian towns, traders placed minimal orders. Due to this, prices have come down. Traders are expecting a further dip in prices in the next few days,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said: “On Monday about one hundred bags of fresh Mysore variety turmeric arrived in the market for sale. But it fetched only Rs 14,200 a quintal, much lower than farmer's expectation. Traders are also buying limited stocks”. He said farmers almost have sold all their stocks, expecting decrease in price for the fresh crop that will arrive in the market in the middle of February, as the cultivated area is almost double this year.

At the Erode Turmeric Merchants Association sales yard, the finger variety fetched Rs 9,299-15,939 a quintal and the root variety Rs 9,000-16,069. Out 1073 bags that arrived in the market, 415 were sold. At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety sold at Rs 14,827-15,997 a quintal, the root variety Rs 14,737-15,831. Of 173 bags that arrived, 143 were sold. At the Erode Cooperative Marketing Society, the finger variety sold at Rs 15,650-16,050, the root variety Rs 15,639-16,010. Of 504 bags kept for sale, 400 were sold. At the Regulated Marketing Committee, the finger variety sold at Rs 15,489-15,949. The root variety Rs 15,293-15,809. Of 634 bags that arrived, 585 were sold.

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Published on January 10, 2011
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