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Spot turmeric prices decreased by ₹200 a quintal at Erode markets on Monday for want of demand.
“No trader received fresh upcountry demand, so they are buying very limited quantity and they feel that the price may decrease further,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
Only 3,900 bags arrived for sale and of this low arrival only 1,600 were sold. The buyers are keen in buying quality turmeric and quoting decreased price and procured the same. The price of the finger turmeric was down by ₹200-300 a quintal in all the markets and the root variety by ₹150-200.
At the Erode Turmeric Merchants Association sales yard, the finger turmeric was sold at ₹4,809-7,685 a quintal; the root variety ₹4,615-7,211. Of the arrival of 892 bags, 210 were sold.
At the Regulated Market Committee, the finger turmeric fetched ₹6,269-7,677 and the root variety ₹6,069-7,065. Of the 773 bags offered, 672 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric traded at ₹6,099-7,209; the root variety ₹6,009-6,900. Of the 1,132 bags placed for sale, 1,061 were sold.
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