Commodities

Turmeric up on supply squeeze

Our Correspondent Erode | Updated on August 16, 2011 Published on August 16, 2011

COM2_TURMERIC





Turmeric prices increased by Rs 350 a quintal on Tuesday as fewer bags were available for sale.

“After three days of closure (due to the long weekend), only 6,000-odd bags of turmeric arrived for sale. The prices increased by Rs 350 a quintal, but the demand for the hybrid variety was totally poor; so the price of hybrid Salem Crop has decreased by Rs 400 a quintal,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association. “ Since we are not getting fresh orders from North Indian traders, the arrivals and sales were very medium,” he added.

To meet pending orders - received from some north Indian areas and also local masala firms - bulk buyers have purchased the commodity, Mr Ravishankar said. Out of 6,200 bags, 60 per cent of the commodity was sold.

Due to the proposed lorry owners' strike from August 18, no lorry goods booking agents have booked the commodity to north Indian towns, he said, adding the rates would tumble if the strike call holds. Turmeric farmers have hired some private godowns at Erode near the turmeric market to stock their produce to get them to market faster .

At the Erode Turmeric Merchants Association Sales yard, the finger variety fetched Rs 5,106 to Rs 6,235 a quintal, the root variety Rs 4,864-5,209 a quintal.

Salem Crop: The finger variety was sold at Rs 5,689-6,666, the root variety Rs 5,094-5,609. Totally 1,237 bags of turmeric arrived for sale and 397 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 5,4686,327. The root variety ruled at Rs 4,865-5,609 a quintal. All the 152 bags that arrived for sale were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 5,300-6,188. The root variety quoted at Rs 4,968-5,696 a quintal.

Published on August 16, 2011
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