Spot turmeric price has improved by Rs 100 a quintal in Erode on Tuesday.

“Though the bulk buyers and others did not receive heavy order, they have received one or two orders. So they purchased the turmeric by quoting increased price. Because of the closure of the market for two days due to Ramzan and Vinayagar Chathurthi, the farmers also sold their produce at the slightly increased price,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said, “In the turmeric futures, the prices quoted on Tuesday was Rs 5,600 a quintal, which is Rs 300 a quintal more than Monday's price. So the traders in Erode also quoted increased price.” He added that from next week they may get fresh orders from north Indian merchants, when the prices may go up.

But due to quality, the hybrid variety declined by Rs 300 a quintal. On Tuesday, out of arrival of 7,000 bags, 65 per cent stocks were sold. The farmers also willingly sold their commodity.

At the Erode Turmeric Merchants Association, finger variety was sold at Rs 4,539 to Rs 5,839 a quintal, root variety Rs 4,247 to Rs 4,974 a quintal.

Salem Crop

Finger variety was sold at Rs 5,499 to Rs 6,269 a quintal, root variety Rs 4,611 to Rs 5,289 a quintal. Totally, 2,531 bags arrived for sale, 540 bags were sold.

At the Gobichettipalayam Agricultural Marketing Society, finger variety was sold at Rs 4,297 to Rs 5,777 a quintal. Root variety Rs 3,869 to Rs 5,229 a quintal. Out of 334 bags arrived for sales, 329 bags were sold.

At the Erode Cooperative Marketing Society, finger variety was sold at Rs 4,578 to Rs 5,867 a quintal, root variety Rs 4,390 to Rs 5,289 a quintal. Out of 1,184 bags kept ready for sales, 1,166 bags were sold.

At the regulated marketing society, finger variety was sold at Rs 5,639 to Rs 6,159 a quintal, root variety Rs 4,699 to Rs 5,189 a quintal. Out of 1,263 bags kept for sales, 1,234 bags were sold.

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