Spot turmeric prices declined at Erode markets on slack upcountry orders. “The price was down ₹200 a quintal in the Erode Turmeric Merchants Association Sales yard. But a few bags in the Regulated Market Committee fetched increased price and buyers procured 50 per cent stocks to fulfil local orders,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
He said the arrival was stable with 3,500 bags of which 1,700 were sold. Only medium variety was sold. Traders are expecting fresh upcountry demand only in August, so they are very cautious in buying the stock.
At the Erode Turmeric Merchants Association sales yard, the finger variety turmeric was sold at ₹4,665-7,209 a quintal; the root variety ₹4,523-6,928. Of the arrival of 1,900 bags, 570 were sold.
At the Regulated Market Committee, the finger turmeric fetched ₹6,169-7,366 and the root variety ₹6,036-6,939. Of the arrival of 401 bags, 359 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric traded at ₹6,161-7,209 and the root variety ₹5,895-6,969. Of the 1,297 bags on sale, 1,273 were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric fetched ₹5,685-7,189 and the root variety ₹5,485-6,959. All the 119 bags found takers.
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