Spot turmeric prices decreased Rs 300/quintal on Wednesday on higher arrivals and lack of demand.

“We are having less demand, and the arrivals are too high, consequently the price of the turmeric decreased by Rs 300/quintal. The price in other centres was also low, so the buyers from North India did not float any fresh orders to Erode turmeric,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said that the turmeric growers wanted to drain all their stocks, as they are expecting another bumper crop next year.

Since more areas are covered under turmeric, the arrival is expected to be heavy by 2012. Growers do not want to stock the yellow spice, and are not willing to sell the turmeric at low price.

On Wednesday 9,500 and odd bags arrived for sale to the market, but only 30 per cent stocks were sold.

The traders and bulk buyers are purchasing very limited stocks and they do not want to keep stocks, as they are worried over the decreasing trend of the produce.

In the Regulated Marketing Committee, no fine variety or hybrid variety arrived, so the sales and price have not improved.

At the Erode Turmeric Merchants Association Sales yard, finger variety was sold at Rs 5,136-7,795/quintal. Root variety Rs 4,906-7,011/quintal.

Salem Crop: Finger variety was sold at Rs 7,503-8706/quintal and root variety was sold at Rs 6,961-7,606/quintal. Out of the 1,867 bags that arrived, 367 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 6,219-7,899/quintal. Root variety was sold at Rs 5,669-7,139/quintal. Out of 184 bags that arrived, 170 were sold.

At the Erode Cooperative Marketing Society, finger variety was sold at Rs 6,066-7,766/ quintal, root variety at Rs 6,096/7,299/quintal. Out of 1,091 bags that arrived, 997 were sold.

At the Regulated Marketing Committee, finger variety was sold at Rs 7,2007,885/quintal, root variety Rs 6,959-7,300/quintal. Out 487 bags that arrived, 398 were sold.

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