Commodities

Bumper arrivals, limited buying grind turmeric

Our Correspondent Erode | Updated on March 11, 2011

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Turmeric prices plunged Rs 1,000 a quintal on arrivals of more than 20,000 bags on Friday.

“Heavy arrvals for the second straight day pulled down turmeric prices on Friday,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association.

“Arrivals in Sangli and Nizamabad are also up. We expect more than 15,000 bags to arrive in North India and 20,000-odd bags in Erode from next week,” he predicted.

Buying by traders was limited. On Friday, only 45 per cent of the 20,600 bags that arrived were sold. Traders had bought last week at higher prices, but nobody would buy that in North India. So they quoted lower prices.At the Erode Turmeric Merchants Association, the finger variety sold at Rs 8,116-Rs 11,419 a quintal and the root variety at Rs 8,000-10,417 a quintal.

Salem Crop: The finger variety fetched Rs 11,509-12,086 a quintal and the root variety Rs 10,104-10,929 a quintal. Out of the 7,619 bags that arrived, 625 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety fetched Rs 10,000-11,566 a quintal and the root variety Rs 7,050-10,869 a quintal. Out of the 133 bags that arrived, 102 were sold.

At the Erode Cooperative Marketing Society, the finger variety sold at Rs 9,239-11,1596 a quintal and the root variety Rs 9,191-10,519 a quintal. Out of the 916 bags that arrived, 714 were sold.

At the Regulated Marketing Committee, the finger variety sold at Rs 10,390-11,389 a quintal and the root variety Rs 7,889-10,417. Out of the 1,849 that arrived, 1,375 were sold.

 

Published on March 11, 2011

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