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The price of spot turmeric faced a steep decrease of Rs 400 to Rs 500 a quintal on Wednesday.
“More than 25,000 and odd bags arrived for sale on Wednesday and consequent to the heavy arrival, the prices were dipped by Rs 500 a quintal. It has disappointed the grower farmers, so, for decreased price the farmers confirmed only 50 per cent of the stock brought for sale,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association on Wednesday.
He also said, “Though the bulk buyers received orders from other States, in actuality they bought very limited quantity of turmeric, as the market will be closed for more than ten days from Friday. Further the prices in other centres also started declining.”
Huge arrival
The traders said, at present in all the markets in Erode, huge quantities of turmeric bags are arriving for sale. But in most of the bags, the crop is in wet condition. Prior to sending to other stations, we have to dry the crop and re-polish the same. This process will a minimum Rs 2,000 a quintal, so it has necessitated them to quote low price. The farmers said, the present price quoted by traders is not a feasible price.
In the Erode Turmeric Merchants Association sales yard, finger variety was sold at Rs 7,891 to Rs 10,089 a quintal, root variety Rs 7,611 to Rs 9,211 a quintal.
Salem crop: Finger variety fetched Rs 10,879 to Rs 11,299 quintal, root variety Rs 9,889 to Rs 10,009a quintal. Totally 7,935 bags arrived for sale, but only 1,059 bags were sold.
In the Erode Cooperative Marketing Society, finger variety was sold at Rs 8,700 to Rs 10,250 quintal, root variety Rs 8,500 to Rs 9,529 quintal. Out of arrival of 1,434 bags, 1,369 were sold.
In the Gobichettipalayam Agricultural Cooperative Marketing Society, finger variety was sold at Rs 9,189 to Rs 10,369 per quintal, root variety Rs 7,669 to Rs 9,410 a quintal. Out of 311 bags kept ready for sale, 268 bags were sold. In both the Erode and Gobichettipalayam Cooperative Marketing Societies, both varieties of turmeric were declined by Rs 400 a quintal.
In the Regulated Marketing Committee, finger variety fetched Rs 9,037 to Rs 9,599 quintal, root variety Rs 8,709 to Rs 9,327 quintal. Out of arrival of 1,633 bags 1,023 bags were sold.
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