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Spot turmeric prices at Erode markets decreased on Monday due to slack upcountry demand and poor quality arrivals.“The turmeric growers are in distress over the decreasing price of the turmeric. They were expecting more than ₹10,000 a quintal but the buyers were asking at ₹8,600 due to arrival of medium variety turmeric and limited upcountry demand,” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
On Monday, only 5,700 bags arrived for sale and the traders procured only 2,900 bags.
At the Erode Turmeric Merchants Association sales yard, the finger turmeric was sold at ₹5,721-8,509 a quintal and the root variety ₹5,719-7,709. Of the 2,619 bags that arrived, 710 were sold.
At the Regulated Market Committee, the finger turmeric traded at ₹7,161-8,214; the root variety ₹6,490-7,724. Of the 843 bags on offer, 749 were sold.
At the Erode Cooperative Marketing Society, the finger turmeric fetched ₹7,199-8,227 and the root variety ₹6,818-7,699. Of the 969 bags put up for sale, 942 were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric went for ₹7,056-8,169; the root variety ₹6,606-7,619. All the 258 bags found takers.
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