Commodities

Poor quality, lack of demand pound turmeric

Our Correspondent | Updated on October 15, 2020 Published on October 15, 2020

Erode, October 15

Spot prices of turmeric decreased at the markets in Erode on Thursday due to arrivals of medium quality and lack of orders.

“Traders are quoting the price for the turmeric based on its quality. For the past few months medium quality turmeric is arriving for sale. The buyer traders those who receive the local demand and few upcountry demands quoting the price cautiously. On Thursday, 2,017 bags arrived for sale and the buyers purchased 1,337 bags (65 per cent) only for their demands,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.

He said the price of the turmeric at the futures increased by two per cent (₹100 a quintal) on Thursday morning but this increase has not reflected in the buying of spot turmeric price. The present arrival and sale will maintain for another few weeks he added.

At the Erode Turmeric Merchants Association sales yard, finger turmeric was sold at ₹ 4,994-6,135 a quintal, root variety was sold at ₹ 4,786-5,617. Of the arrival of 1,057 bags, 421 bags were sold.

At the Regulated Marketing Committee, finger turmeric went for ₹ 4,835-5,819 a quintal, root variety was sold at ₹4,644-5,990. Of the arrival of 341 bags of turmeric, 311 bags were sold.

At the Erode Cooperative Marketing Society, finger turmeric fetched ₹ 5,089-5,699 a quintal, root variety was sold at ₹ 4,689-5,639 a quintal. All the 335 bags brought for sale were sold.

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Published on October 15, 2020
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