Commodities

Stockists begin to build up turmeric inventories

Our Correspondent Erode | Updated on October 30, 2012 Published on October 30, 2012

BL31_COM2_TURMERIC

Stockists have begun purchasing huge stocks of turmeric in the Erode markets and building up inventories with an intention of selling them at a higher price.

“We are not buying the turmeric for the past fortnight as we have not received any order from North India. But we are visiting the markets daily watching the situation and quality of the turmeric . On Tuesday, more than 2,500 bags of turmeric arrived after one month and sixty per cent of them were procured by the stockists,” said the traders.

They said already the stockists are having huge stock and are continuing their buying with an intention to stock them and sell the produce when the price touched more than Rs 9,000 a quintal.

Now the yellow spice is selling at Rs 5,500-5,800.

At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 3,919-5,169 a quintal, the root variety Rs 3,279-4,279.

Salem Hybrid Crop: The finger variety fetched Rs 4,896-5,829 while the root variety Rs 4,560-5,104.

Of the 1,217 bags arrived, 259 were sold.

At the Regulated Marketing Committee, the finger variety was sold at Rs 4,450-5,540; the root variety Rs 4,389-4,902.

Of the 704 bags, 633 bags found takers.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 4,809-5,912; the root variety Rs 4,289-4,899.

Of the 874 bags arrived, 872 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety fetched Rs 4,780-5,710; the root variety Rs 4,239-5,109.

All the 236 bags were sold.

Published on October 30, 2012
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