Spot turmeric dropped by Rs 300 a quintal at Erode on Thursday owing to subdued demand from north Indian traders and dull trade at other turmeric centres, said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association. He said prices dropped by Rs 500 a quintal at the Regulated Marketing Committee.

“The buyers after watching keenly the prices at other sales centres as well as the futures, quote a low price. But the farmers are unwilling to sell below Rs 10,000 per quintal. Consequently, sales were very dull — about 40 per cent out of the arrival of 16,000 bags on Thursday,” he said.

The market will remain closed for Good Friday and reassemble on Monday, he said. Kerala buyers were missing at the auction sale of the past few days owing to the holidays in that State from Thursday. Expecting an increased price, some farmers had brought their produce only to take them back due to the low price.

At the Erode Turmeric Merchants Association sales yard, finger variety sold at Rs 9,416 to Rs 9,859 a quintal and root variety at Rs 7,002 to Rs 9,209 a quintal.

Salem crop: Finger variety Rs 9,394 to Rs 10,610 a quintal, root variety Rs 8,689 to Rs 9,609 a quintal. Of the 5,625 bags that arrived at the market only 462 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety sold at Rs 8,027 to Rs 9,830 a quintal and root variety at Rs 7,799 to Rs 8,889 a quintal. Of the 275 bags on sale, 239 were sold.

At the Erode Cooperative Marketing Society, finger variety sold at Rs 8,669 to Rs 9,689 a quintal and root variety at Rs 7,272 to Rs 8,888 a quintal. Of the 1,263 bags that had arrived for sale, 1,025 bags were sold.

At the Regulated Marketing Committee, finger variety fetched Rs 8,916 to Rs 9,489 a quintal and root variety Rs 8,699 to Rs 9,229 a quintal. Of the 1,814 bags on sale, 1,335 were sold.

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