Turmeric prices dropped below Rs 8,000 a quintal on Wednesday on lack of fresh orders.

“We never expected spot turmeric to go below Rs 8,000. On Wednesday, both varieties of turmeric decreased further by Rs 300/quintal. This is primarily on lack of fresh orders from all over India,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

Mr Ravishankar said, “Due to poor demand, the fine hybrid ‘kora' variety turmeric also decreased by Rs 1,000/quintal in three days and the low quality variety fell by over Rs 500.” Traders said the price in other turmeric selling places is also showing decline, which reflected here. Some traders said they are awaiting for good orders from other centres, which they hoped will lift prices.

At the Erode Turmeric Merchants Association sales yard, the finger variety was down Rs 275/quintal and at the Regulated Marketing Committee, the root variety fell Rs 500. The finger variety fetched Rs 6,909 to Rs 7,814 a quintal while the root variety sold at Rs 6,210-7,011.

Salem Crop : The finger variety was sold at Rs 7,430-8,329, the root variety Rs 6,474-7,269. Out of the total arrivals of 3427 bags, 350 were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 6,079-7,810, the root variety Rs 5,859-7,029, out of 936 bags kept for sale 736 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 6,100-7,919, the root variety Rs 5,896 -6,869. All the 115 bags that arrived were sold.

At the Regulated Marketing Society, the finger variety was sold at Rs 7,389-8,082, the root variety Rs 6,289-6,589. Out of 880 bags, 814 were sold.

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