Commodities

Demand from bulk buyers lifts turmeric

Our Correspondent Erode | Updated on May 11, 2011 Published on May 11, 2011

BL12_COM2_TURMERIC

Rising demand, especially from bulk buyers, lifted the spot turmeric price in Erode on Wednesday.

“The demand for turmeric has started pouring in and so bulk buyers have started purchasing the produce, which has resulted in increasing the spot turmeric price by Rs 100 a quintal on Wednesday,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

“The demand for the both varieties of Salem crop turmeric were high for the past one week. Both the varieties of Salem crop showed an increase of Rs 500 a quintal and more than 500 bags of Salem crop were sold for good price.”

The buyers said that based on the demand they are buying limited quantities, as they feel that the price of the turmeric will decrease from next week. On Wednesday out of arrival of 15,000 bags, 60 per cent bags were sold.

At the Erode Turmeric Merchants Association Sales Yard, finger variety was sold at Rs 7,146 to Rs 9,191 a quintal, root variety Rs 7,066 to Rs 8,155 per quintal.

Salem Crop: Finger variety fetched Rs 9,211 to Rs 1,0,410 per quintal, root variety Rs 8,190 to Rs 8,689 per quintal. Out of the total 3,561 bags (649 lots) kept for sale, 600 bags were sold.

In the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 8,109 to Rs 9,246 per quintal. Root variety Rs 7,569 to Rs 8,269 per quintal. All the 280 bags kept for sales were sold.

In the Erode Cooperative Marketing Society, finger variety was sold at Rs 8,227 to Rs 9,351 per quintal, root variety Rs 7,110 to Rs 8,309 per quintal. Out of 1,233 bags arrived for sales, 1,183 bags were sold.

In the Regulated Marketing Committee, finger variety fetched Rs 8,803 to Rs 9,509 per quintal, root variety Rs 7,909 to Rs 8,239 per quintal. About 1,126 bags were sold as against arrival of 1,160 bags.

Published on May 11, 2011
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