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Stock buying pushed up spot turmeric, which may rise to Rs 8,000 a quintal this week.
“Though arrival in the four markets was high, the finger variety has touched Rs 7,790 a quintal and it will touch Rs 8,000 a quintal on Friday. Out of the over 12,000 bags, 80 per cent was sold. Stockists quoted higher prices for the over 7,500 bags they bought.” a trader said.
The demand for the root variety ( gutta ), which rose to Rs 6,600 a quintal, has increased as many exporters have received new orders from Punjab and Delhi. The hybrid Salem crop was quoted at Rs 8,000 a quintal.
Traders said that they are buying only for the already obtained orders. At the Erode Turmeric Merchants Association Sales yard, the finger variety was sold at Rs 3,499-7,300 a quintal, the root variety at Rs 3,419-6,100.
Salem crop: The finger variety was sold at Rs 7,564-8,009 a quintal, the root variety at Rs 6,509-7,260. Of the 1,830 bags that arrived, 927 were sold.
At the Regulated Marketing Committee, the finger variety was sold at Rs 7,172-7,709 a quintal, the root variety at Rs 6,906-7,101. Of the 1,176 bags that arrived, 1,092 were sold.
At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 6,600-7,700 a quintal, the root variety at Rs 5,800-6,700. Of the 1,054 bags that arrived, 1,034 were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 5,989-7,789 a quintal, the root variety at Rs 5,869-6,616. All the 152 bags which arrived were sold.
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