Commodities

Hybrid turmeric gains on N. India orders

Our Correspondent Erode | Updated on April 29, 2014 Published on April 29, 2014




Prices of the hybrid variety turmeric gained ₹800 a quintal at Erode on the back of upcountry orders. Also, the Erode variety is cheaper than the other markets.

“Erode traders have received good number of orders from North India merchants, so they are buying huge stocks. But they prefer only quality turmeric and stockists also started buying . The demand for the hybrid was high and so traders bought the entire hybrid finger and root turmeric, as quality varieties arrived for sale. The hybrid variety increased by ₹790 a quintal and the root by ₹300. Further, this year in Erode district alone, traders are expecting to harvest only 7 lakh bags due to drought. Already 3-4 lakh bags were harvested and brought to market,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.

He said that on Tuesday, 5,600 bags arrived for sale and 75 per cent was lapped up by traders and stockists. Prices in other centres such as Nizamabad and Sangli are higher than Erode, so many are placing huge orders. At the Erode Turmeric Merchants Association, the finger turmeric was sold at ₹5,199-7,694; the root variety ₹4,599-7,364 a quintal.

Salem Hybrid: The finger variety was sold at ₹6,380-8,888; the root variety ₹5,909-7,414. Of the 1,613 bags that arrived, 1,010 were sold.

At the Regulated Market Committee, the finger variety fetched ₹6,604-7,564 and the root variety ₹6,399-7,284. Of the 810 bags offered, 624 were traded.

At the Erode Cooperative Marketing Society, the finger variety quoted ₹6,426-7,506; the root variety ₹6,367-7,340. Of the 1,012 bags put up for sale, 750 found takers.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at ₹6,772-7,509 and the root variety ₹6,581-7,242. Of the 227 bags that arrived, 134 were sold.

Published on April 29, 2014
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