Commodities

Limited buying grinds turmeric

Our Correspondent Erode | Updated on May 16, 2011

turmeric

Spot turmeric fell Rs 400 a quintal on Monday.

“No bulk buyer has received fresh order. So limited quantity of turmeric was bought,” said Mr R.V. Ravishankar, President, Erode Turmeric Merchants Association, on Monday.

“Till mid-July, the same price — give or take Rs 500 a quintal — may prevail, as the second sales season starts only from August, and the North Indian merchants will float large fresh orders. For the past fifteen days, prices and sales in other centres have been normal, though on some days sales were slow. Futures, too, have not improved for the past some days, so the same price may prevail,” said Mr Ravishankar.

He said at present bulk buyers are purchasing to fulfil last month's local orders. The growers said they would not sell if prices fall below Rs 9,000.

On Monday, 14,000-odd bags arrived for sale, but only 45 per cent of them were sold.

At the Erode Turmeric Merchants Association Sales centre, the finger variety was sold at Rs 6,555-8959 a quintal and root variety at Rs 6,209-8316 a quintal.

Salem Crop: The finger variety fetched Rs 9,085-10,209 a quintal and root variety Rs 8,079-8,769 a quintal. Out of the 5,332 bags that arrived, only 400 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 7,027-9,246 a quintal and root variety at Rs 6,169-8,366 a quintal. Out of the 224 bags that arrived, 195 were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 7,855-9091 a quintal and root variety at Rs 7,603-8,425 a quintal. Out of the 1,325 bags that arrived, 1,109 were sold.

At the Regulated Marketing Committee, the finger variety was sold at Rs 8,611-9095 a quintal and root variety Rs 8,779-8,383 a quintal. Out of the 1,298 bags that arrived, only 688 were sold.

Published on May 16, 2011

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