Turmeric jumps on N. Indian demand

Spot turmeric jumped Rs 1,009 a quintal on strong demand at the Regulated Marketing Committee. Both the sales and prices were high. There was heavy competition as traders tried to fulfil orders received from North India. Prices gained Rs 500 a quintal in the other three markets of Erode.

“Erode traders and bulk buyers have received heavy orders suddenly, because of which spot turmeric has improved by Rs 500 per quintal on Tuesday,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.

“Auctions were not conducted at the Nizamabad market yesterday because of the Telangana agitation. The market will open on Thursday only. So North Indian merchants turned to Erode, and gave huge orders..”

Out of the 9,000 bags that arrived, 5500 were sold.

In the Erode Turmeric Merchants Association Sales yard, the finger variety sold at Rs 8,199-11,769 a quintal and the root variety Rs 7,809-11,206 a quintal.

Salem Crop: The finger variety fetched Rs 12,567-13,517 a quintal and the root variety Rs 11,160-11,557 a quintal. Out the 2,612 bags that arrived, 715 were sold.

At the Erode Cooperative Marketing Society, the finger variety sold at Rs 10,189-12,630 a quintal and the root variety Rs 7,334-10,889 a quintal. Of the319 bags that arrived, 256 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety sold at Rs 9,850-11,969 and the root variety Rs 9,501-10,919 a quintal.

At the Regulated Marketing Committee, the finger variety sold at Rs 10,619-12,389 a quintal and the root variety Rs 8,909-11,065 a quintal. All the 550 bags were sold.