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Spot turmeric prices decreased by Rs 150 a quintal on Thursday as exporters bought only limited quantities.
“Despite drop in prices, sales were encouraging on Thursday. Of the 13,500-odd bags that arrived, 70 per cent stocks was sold. Traders, exporters and stockists were the main buyers. Exporters purchase was limited,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
Turmeric futures increased by 2 per cent and this did not have an impact on local sales. Prices in other north Indian centres are on the decline, and no buyer has the courage to quote a higher price.
Even Hybrid Salem turmeric prices decreased by Rs 150 a quintal.
At the Erode Turmeric Merchants Association Sales yard, the finger variety fetched Rs 2,401-3,611 a quintal and the root variety Rs 2,299-3,464 a quintal.
Salem crop : The finger variety was sold at Rs 3,811-4,509 and the root variety Rs 3,224-3,716. Of 2,355 bags that arrived, 1,099 were sold.
At the Regulated Marketing Committee, the finger variety was sold at Rs 3,349-3,885 and the root variety at Rs 3,209-3,719. Some 1,281 bags were sold against the arrival of 1,446.
At the Gobichettipalayam Agricultural Co-operative Marketing Society, the finger variety was sold at Rs 3,360-3,717 and the root variety Rs 3,269-3,669. All 139 bags kept for sales were sold.
At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 2,929-3,851 and the root variety Rs 2,839-3,766. All 1195 bags that arrived were sold.
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