Turmeric futures drop below Rs 5,000 a quintal

Our Correspondent Erode | Updated on August 02, 2013 Published on August 02, 2013


Turmeric prices decreased due to quality problems.

“The arrival though decreased to 3,400 bags on Friday, the prices decreased by Rs 300 due to quality. Only a few turmeric farmers have brought their stocks for sale, as many farmers are busy with their agricultural operations”, said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said suddenly prices in the futures market decreased to below Rs 5,000, and traders fear that the prices may fall further.

He said they are expecting the upcountry orders within a week.

Due to arrival of low quality hybrid turmeric, the price of the hybrid finger variety fell by Rs 1,000, but only a few bags of hybrid turmeric arrived for sale.

At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 3,699-5,911, the root variety Rs 3,614-5,641.

Salem hybrid crop: The finger variety was sold at Rs 5,691-6,516, the root variety Rs 4,811-5,989. Of the arrival of 598 bags, 307 were sold.

At the Regulated Market Committee, the finger variety was sold at Rs 4,890-5,940, the root variety Rs 4,714-5,841.

Of the 447 bags, 341 were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 5,011-5,941, the root variety Rs 4,934-5,840.

Of the arrival of 582 bags, 552 were sold.

At the Gobichettipalayam Agricultural Cooperative marketing Society, the finger variety fetched Rs 5,017-6,511, the root variety Rs 4,217-5,761. Of 72 bags, 52 were sold.

Published on August 02, 2013
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