Commodities

Spot turmeric prices rise at Erode

Our Correspondent Erode | Updated on October 14, 2020 Published on October 14, 2020

Spot turmeric prices and sales registered an increase at the markets in Erode on Wednesday.

“The traders are still waiting for fresh upcountry demand purchasing limited stock. They are getting medium local demand from the Turmeric Powder grinding units and masala firms, have purchased good number of turmeric on Wednesday. Cent per cent sale of turmeric at the Erode Cooperative Marketing Society and Regulated Marketing Committee are recorded. The buyers have purchased the same without quoting increased price to supply the same for their pending demands. The sale at the Erode Turmeric Merchants Association Sales yard was only 40 per cent, but the finger turmeric price was increased by ₹ 150 a quintal for some 50 bags,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.

He said due to poor demand and consequent poor sale the turmeric growers are bringing limited medium quality turmeric to meet their domestic and agricultural expenses. Till the month end the same price may prevail, he added.

The traders said some turmeric exporters are buying good quality turmeric from one or two farmers and also from other States. Now no turmeric is exported to Sri Lanka, as the Sri Lanka Government banned the import to develop their turmeric cultivated in their own country. But export of turmeric is in progress to other countries.

There was no major price change at the Erode Markets and the traders said the price of the commodity is ‘steady’.

At the Erode Turmeric Merchants Association sales yard, finger turmeric was sold at ₹ 4,856-6,369 a quintal, root variety was sold at ₹ 4,554-5,617 a quintal. Of the arrival of 1,039 bags, only 485 were sold.

At the Regulated Marketing Committee, finger turmeric was sold at ₹4,874-5,769 a quintal, root variety was sold at ₹ 4,608- 5,609. All the 148 bags kept for sale were sold.

At the Erode Cooperative Marketing Society, finger turmeric was sold at ₹ 5,169-5,989 a quintal, root variety was sold at ₹ 4,854-5,689 a quintal. All the 276 bags of turmeric brought for sale were sold.

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Published on October 14, 2020
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