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Spot turmeric prices improved marginally despite the huge arrival of 12,000 bags on Friday.
“To fulfil the orders received from upcountry merchants, the local bulk buyers at Erode, purchased some quality turmeric by paying a slightly higher price,” said a few bulk buyers at Erode.
The traders said that till the end of March, the yellow spice at Erode was sold at Rs 11,000 per quintal and the sales was very encouraging. But the prices suddenly decreased to Rs 9,300 per quintal from April 5. Now in the month of July, it is selling at Rs 7,600-7,900 per quintal. The farmers were very upset over the declining price and are not willing to sell all their stock, but are selling a portion of their stock, as they require money for their day to day transactions. They also expect prices to go up by another Rs 1,000 in August.
At the Erode Cooperative Marketing Society, the prices improved by Rs 300 per quintal and because of the arrival of ‘quality' turmeric the sales were also very encouraging. In the Regulated Marketing Committee, prices increased by Rs 150 per quintal and 80 per cent of the turmeric was sold.
At the Erode Turmeric Merchants Association, finger variety was sold at Rs 5,106- 7,929 per quintal, root variety at Rs 5,099-7,096 per quintal.
The finger variety of the Salem crop was sold at Rs 7,511-8,509 per quintal, root variety at Rs 6,539-7,425 per quintal. Out of the arrival of 2,549 bags, 541 bags were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 6,027-7,839 per quintal, root variety at Rs 6,307-7,159 per quintal. Out of the arrival of 102 bags, 78 bags were sold.
At the Erode Cooperative Marketing Society, finger variety fetched Rs 6,499-8092 per quintal, root variety got Rs 6,010-7110 per quintal and out of the arrival of 1,246 bags, 1,137 bags were sold.
At the Regulated Marketing Committee, the finger variety was sold at Rs 7,447- 8,190 per quintal, root variety was sold at Rs 7,016- 7344 per quintal. And out of the arrival of 1,307 bags, farmers confirmed 1,070 bags and were sold.
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