Spot turmeric prices dropped by Rs 150-200 a quintal on Friday as arrivals flooded markets in Erode.

“Due to heavy arrival, of more than eighteen thousand bags and limited demand, the price of the commodity has decreased by Rs 150 to Rs 200 a quintal. Though the price for Salem crop also dipped by Rs 230, the demand for the Salem crop remains good and all the 400-odd bags of the finger variety of Salem crop were sold,” said Mr R.K.V. Ravishankar, President, Erode Turmeric merchants Association, on Friday.

The Salem crop, with a higher curcumin content and high export orders, arrived in limited quantities at the Erode market. Friday's consignments were sold out immediately as bulk buyers quoted higher price.

He said that in the auction places, the buyers showed good interest in the Salem crop.

Farmers said that within four months, the turmeric price has dropped by Rs 7,000-8,000 a quintal. The crop was sold at Rs 17,000 a quintal in December and now it is selling at around Rs 9,700 a quintal. If the crop fetches Rs 9,000-10,000, they will not get profit as the cost of the production has increased to Rs 10,000 a quintal. At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 7,369-9,589 a quintal and the root variety Rs 7,196-8,899.

Salem Crop : The finger variety fetched Rs 10,239-11,089, the root variety Rs 9,016-9,589. At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 8,600-9,659 and the root variety Rs 8,319-9,089. At the Regulated Marketing Committee, the finger variety was sold at Rs 9,246-9,659. The root variety was quoted at Rs 8,899-9,199. .

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