Commodities

Turmeric rises Rs 700/quintal on N. Indian demand

Our Correspondent Erode | Updated on March 09, 2011 Published on March 09, 2011

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Spot turmeric rose Rs 700 a quintal on Wednesday, as demand from North India increased. As arrivals in the Nizamabad market dipped to 3,000-4,000 bags, North Indian merchants turned to traders in Erode, said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said, ?Turmeric futures also quoted high, which reflected in local market.? Demand from merchants in other States boosted sales. They will continue to increase in the next two or three days, as demand from other States for turmeric from Erode has increased. More than 17,000 bags arrived for sale on Wednesday; of which 70 per cent were sold.

In the Erode Turmeric Merchants Sales Yard, the finger variety sold at Rs 8,000-12,215 a quintal and the root variety at Rs 7,800-11,586 a quintal.

Salem Crop: The finger variety sold at Rs 12,369-13,759 a quintal and the root variety at Rs 11,269-11,996 a quintal. Out of the 4,949 bags that arrived, 765 were sold.

At the Erode Cooperative Marketing Society, the finger variety sold at Rs 10,793-12,710 a quintal and the root variety Rs 10,913-11,369 a quintal. Out of the 356 bags that arrived, 286 were sold. Prices increased by Rs 450 a quintal.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety fetched Rs 10,697-12,797 a quintal and the root variety Rs 9,999-11,669 a quintal. All the 136 bags that arrived were sold. Prices rose by Rs 975 a quintal.

At the Regulated Market Committee, the finger variety sold at Rs 10,389-12,210 a quintal and the root variety Rs 7,999-11,519 a quintal. Out of the 1,415 bags that arrived, 1,344 were sold.

Published on March 09, 2011
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