Spot prices of turmeric ruled flat on Wednesday despite lower arrivals..
“Usually if the turmeric arrivals are low, prices go up. In contrast, the prices are decreasing despite low arrival. This proves (there is) absolutely no demand for Erode turmeric from upcountry traders,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said the demand for turmeric in other centres is also poor. Only by first week of August, after the Aadi 18th (August 3), prices may go up. Farmers usually bring a thousand-odd bags a day to the Regulated Marketing Committee, but are now bringing only 200 to 300 bags. But on Wednesday, sales at the Erode Cooperative Marketing Society and at the Regulated Marketing Committee have improved. But overall, out of arrival of 5,500 bags, 40 per cent were sold. At the Erode Turmeric Merchants Association Sales yard, the finger variety was sold at Rs 5,400-7,269 a quintal. The root variety was sold at Rs 5,211-6,339.
Salem Crop: The finger variety was sold at Rs 6,694-8,469 and the root variety at Rs 5,907-6,769. Arrivals for sale were 1,549 bags, but only 298 were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 4,772-7,519 and the root variety at Rs 3,601-6,405. Out of arrival of 109 bags, 104 were sold. At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 6,369-7,689 and the root variety Rs 5,700-6,418.
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