The price of spot turmeric decreased by Rs 300 a quintal here on Monday.

“After three days closure of the turmeric market, on Monday, more than 25,000 bags of turmeric arrived for sale. Due to heavy arrivals, the prices declined by Rs 300 a quintal. The arrivals are much higher than the demand, but to fulfil the orders, the bulk buyers have purchased 60 per cent of the arrived quantity,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association on Monday.

“The Nizamabad market did not function on Monday, so the traders in North India placed some fresh orders at Erode, so the traders in Erode have purchased the commodity and dispatched the same immediately,” he said.

Mr Ravishankar said usually in March good quantity of turmeric arrives, but this year due to heavy production, 25,000 and odd bags are arriving to the market daily.

In the Erode Turmeric Merchants Association Sales Yard, finger variety was sold at Rs 8,009 to Rs 10,489 a quintal, root variety Rs 8,009 to Rs 9,590 a quintal.

Salem variety: Finger variety fetched Rs 10,639 to Rs 11,203 a quintal, root variety Rs 9,690 to Rs 10,033 a quintal. Totally, 8,092 bags of turmeric arrived for sale, only 756 bags were sold.

In the Erode Cooperative Marketing Society, finger variety was sold at Rs 9,219 to Rs 10,459 a quintal, root variety Rs 8,865 to Rs 9,799 a quintal. Out of 1,570 bags for sale, 1,465 bags were sold.

In the Gobichettipalayam Agricultural Marketing Society, finger variety was sold at Rs 8,669 to Rs 10,689 a quintal, root variety Rs 9,069 to Rs 9,897 a quintal. Out of arrival of 221 bags, 115 bags were sold.

In the Regulated Marketing Committee, finger variety fetched Rs 8,909 to Rs 10,410 ap quintal, root variety Rs 8,609 to Rs 9,740 a quintal. Out of arrival of 1,843 bags, 1,399 bags were sold.

The market will be closed for Bannari fire walking festival on Tuesday and open on Wednesday.

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