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Spot turmeric prices decreased further on Wednesday by Rs 200-400 a quintal.
“The turmeric growers and bulk buyers are disconcerted over the declining turmeric price. Some traders have decided to keep away from placing tenders for the yellow spice. Some turmeric farmers visited the auction centres without placing their samples, just watching the situation. Because of the downward trend in turmeric prices, no North Indian trader placed orders ,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
The turmeric second saleseason started from August 1, but the initial prices were very poor which gave a great blow to the turmeric farmers. They said though the current price is not profitable , they areforced to sell the same at the prevailing low price, as they have huge stocks piled up.
Mr Ravishankar also said on Wednesday that more than 8,500 bags of turmeric arrived for sale, but only 40 per cent stocks were sold at a low price. In the Erode Turmeric Merchants Association sales yard, turmeric fell by Rs 200 a quintal. In the Gobichettipalayam Agricultural Coop Marketing society, the commodity dropped by Rs 397 a quintal. Similarly in the Erode cooperative marketing society, the price dropped by Rs 300 a quintal.
At the Erode Turmeric Merchants Association Sales yard, finger variety was sold at Rs 4,119 to Rs 5,709 a quintal, root variety Rs 4,064 to Rs 5,389 a quintal.
Salem Crop : Finger variety was sold at Rs 5,609 to Rs 6,810 a quintal, root variety Rs 5,096 to Rs 5,810 a quintal. Out of 2,183 bags that arrived for sale, 355 bags were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety fetched Rs 4,895 to Rs 5,699 a quintal, root variety Rs 4,765 to Rs 5,329 a quintal. Out of an arrival of 100 bags, 94 were sold.
At the Erode Cooperative Marketing Society, finger variety was sold at Rs 4,578 to Rs 5,780 a quintal, root variety Rs 4,489 to Rs 5,460 a quintal. Out of 1,158 bags, 1,111 bags were sold.
At the Regulated Market Committee, finger variety was sold at Rs 5,185 to Rs 5,761 a quintal, root variety Rs 4,989 to Rs 5,639 a quintal. Out of arrival of 529 bags, 403 bags were sold.
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