Turmeric jumps on improved demand

Our Correspondent Erode | Updated on February 15, 2011

Turmeric_jpg_344341_344341a.jpg   -  Business Line

The spot turmeric price has improved by Rs 200 to Rs 300 per quintal on Tuesday.

“Erode bulk buyers and traders have received orders from various parts of North India, which has reflected in the hike in turmeric price by Rs 200 to Rs 300 per quintal on Tuesday,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.

“The price in the Nizamabad market was steady and sales improved. Similarly in Erode, traders started receiving orders from various places in the country, so bulk buyers turned active. Because of the increase in price and sales, the turmeric-growing farmers were happy. On Tuesday, of the 7,500 bags that arrived, more than 6,000 were sold. The same trend of improvement in sales will continue,” he added.

In the Erode Turmeric Merchants Association Salesyard, finger variety sold at Rs 7,499 to Rs 10,685 per quintal, root variety Rs 7,365 to Rs 10,129.

Salem crop: Finger variety Rs 10,549 to Rs 12,229, root variety Rs 9,999 to Rs 10,316. Of the total arrivals of 2,397 bags, 875 were sold.

In the Erode Cooperative Marketing Society, finger variety fetched Rs 9,609 to Rs 10,721, root variety Rs 9,009 to Rs 10,179. All the 158 bags kept for sale were sold.

In the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety sold at Rs 9,169 to Rs 11,269, root variety Rs 9,565 to Rs 11,150.

In the Regulated Marketing Committee, finger variety sold at Rs 9,729 to Rs 11,019, root variety Rs 9,619 to Rs 10,890. Of 662 bags that arrived, 559 were sold.

The turmeric market is closed on Wednesday for a national holiday.

Published on February 15, 2011

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