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Turmeric prices ruled steady on Monday, as arrivals remained below expectation at 16,000 bags.
?We expected the price of turmeric will fall on Monday, as after being closed for four days huge stocks would arrive. But arrivals were less than expected, as we hoped for more than 20,000 bags. In contrast, the prices of all varieties of turmeric were steady, and arrival was around 16,000 bags,?said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association. Around 60 per cent of the arrivals were sold.
The growers said, ?We expected the price to go up, as the demand for the commodity is high in North India, but the prices were not appreciated on Monday.?
Mr Ravishankar said, ?The Nizamabad market assembled on Monday after a close of four days. Depending on the sales and prices there, the spot turmeric prices in Erode will react from Tuesday. The traders in Erode are getting reasonable orders from other parts of India, so the sales will go up in next few days.?
On Monday, in the Erode Turmeric Merchants Association Sales Yard, the finger variety fetched Rs 8,300-11,506 a quintal and the The root variety Rs 8,000-10,499 aquintal.
Salem Crop: The finger variety sold at Rs 11,750-12,700 a quintal and the root variety at Rs 10,989-11,609 a quintal. Out of the 4,376 bags that arrived, only 769 were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety sold at Rs 10,289-12,510 a quintal and the root variety at Rs 9,559-11,000 a quintal. Out of the 305 bags that arrived, 260 were sold.
At the Erode Cooperative Marketing Society, the finger variety fetched Rs 9,999-12,245 a quintal and the root variety Rs 9,425-11,297 a quintal. All the 489 bags that arrived were sold.
At the Regulated Marketing Committee, the finger variety sold at Rs 10,468-11,899 a quintal and the root variety Rs 9,590-11,061 a quintal. Out of the 1,755 bags that arrived, 1,389 were sold.
Sales in the Turmeric Merchants Association sales yard were low, but encouraging at the other three centres.
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