Commodities

Turmeric up on demand

Our Correspondent Mumbai | Updated on January 24, 2011

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The Erode turmeric market witnessed a slight increase in price of Rs 100 per quintal and also sales. But in the Regulated Marketing Committee the prices were seen decreased.

“Being auspicious day (Thai Poosam) some bulk buyers have started procuring the turmeric. There is absolutely no demand from any quarters, he buyers purchased very little quantity”, said R.V. Ravishankar, President, Erode Turmeric Merchants Association on Thursday.

He said, “Hereafter there may be some sales, the buyers will buy the crop though the prices are high”. Meanwhile the turmeric farmers expect that the prices may go up in the next week. The farmers also said that they are having very limited stock and said they do not want to keep the stock.

The price in the Regulated Marketing Committee shows a decrease, due to the arrival of 300 bags of Number 8 variety, which fetched only Rs 13000 and below per quintal.

The bulk buyers said the new crop will arrive to the market from February when certainly the prices will go down and so the farmers will not keep the stock with them. They also expected that from February they will get fresh orders from allover India, though the Nizamabad receives stock now.

In the Turmeric Merchants Association Sales yard, finger variety was sold at Rs 9900 to Rs 14591 per quintal, root variety Rs 9103 to Rs 14127 per quintal. Out of arrival of 681 bags 367 bags were sold.

In Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 11027 to Rs 14797 per quintal, root variety Rs 11899 to Rs 14597 per quintal. Out of arrival of 63 bags only 17 bags were sold.

In Erode Cooperative Marketing Society, finger variety fetched Rs 12560 to Rs 14760 per quintal, root variety Rs 12500 to Rs 14551 per quintal. All the 38 bags arrived for sale were sold.

In the Regulated Marketing Committee, finger variety fetched Rs 13796 to Rs 14909 per quintal, root variety Rs 13796 to Rs 13986 per quintal. Out of 612 bags arrived for sale, 559 bags were sold.

Published on January 24, 2011

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