Commodities

Spot turmeric prices up on limited arrivals

Our Bureau Erode | Updated on May 10, 2011 Published on May 10, 2011

turmeric

Spot turmeric price increased by Rs 100-150 a quintal on Tuesday, as buyers competed to buy the limited stock that arrived in the market.

“Buyers started buying spot turmeric and competition was seen in buying both varieties of Salem Crop, which improved by Rs 500 a quintal,” Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association, said on Tuesday.

He said, “The arrival of turmeric bags at Erode was around 14,000 bags, of which 50 per cent was sold. The arrival in other markets also was very low and in Nizamabad only 4,000 bags arrived, so the traders quoted increased price for the commodity. In the futures market prices did not improve, showing fluctuations of about Rs 100 a quintal”.

Farmers and traders said they expectthe price to prevail for another one week or ten days. But if the arrival of stock increases, they would reduce the price. The traders also expectthat after this week, they may get fresh orders from other States, then the price and sales will improve here.

But in the Regulated Marketing Committee, the price of the both varieties showed a decline of Rs 100 a quintal

At the Erode Turmeric Merchants Association Sales Yard, finger variety was sold at Rs 7,200-9,149 a quintal, root variety at Rs 7,109-8,189 a quintal.

Salem Crop: Finger variety fetched Rs 9,169- 9,929 a quintal, root variety Rs 8,300-8,866 a quintal. Totally 4,087 bags (721 lots) arrived for sale, only 350 bags were sold.

In the Gobichettipalayam Industrial Cooperative Marketing Society, finger variety was sold at Rs 7,800-9,163 a pquintal, root variety Rs 7,609-8,126 a quintal. Out of 176 bags arrived, 152 bags were sold.

In the Erode Cooperative Marketing Society, finger variety fetched 8,227-9,220 a quintal, root variety Rs 7,889-8,225 a quintal. Out of arrival of 1240 bags 1140 bags were sold.

In the Regulated Marketing Committee, finger variety was sold at Rs 8,589-9,156 a quintal, root variety Rs 7,689-8,139 a quintal. Out of arrival of 937 bags, only 681 bags were sold.

Published on May 10, 2011
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