Turmeric prices continue to rule low as traders in North India seemed to be holding huge stocks.
“We are waiting for orders from merchants in North India. Such delay may be due to the huge stock traders are holding in North India. But some merchants will place fresh orders for hybrid turmeric at Erode,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
Arrivals in Erode markets increased to 4,200 bags but the sale was limited to 50 per cent of arrivals. On Thursday, due to the arrival of poor quality, the finger variety prices dropped by ₹370 a quintal and the hybrid root variety slid by ₹100. All the152 bags of hybrid turmeric were sold. But the local variety finger turmeric quoted higher by ₹100-200 a quintal but root variety prices fell by ₹100.
At the Erode Turmeric Merchants Association sales yard, the finger turmeric fetched ₹4,299-6,311 a quintal, the root variety ₹4,032-6,011.
Salem Hybrid: the finger turmeric was sold at ₹5,719-6,731 a quintal and root variety at ₹5,539-6,219. Of the 752 bags that arrivcd, 218 were sold.
At the Regulated Market Committee, the finger turmeric was sold at ₹5,449-6.331, the root variety at ₹5,316-6,289. Of the 1,237 bags that arrived, 890 bags found takers.
At the Erode Cooperative Marketing Society, the finger turmeric was sold at ₹5,519-6,379 a quintal, the root variety at ₹5,459-6,117. Of the 732 bags on offer, 681 were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric was sold at ₹5,461-6,361, the root variety at ₹5,100-6,200. All the 210 bags of turmeric put up for sale were picked up.
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