Commodities

Turmeric arrivals in Erode pick up pace, prices stay depressed

R.SUNDARAM ERODE | Updated on January 11, 2018 Published on July 29, 2017

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Arrivals of turmeric bags for sale in the Erode market has been increasing.

“At the weekend market on Friday, 4,500 bags of turmeric arrived for sale. But prices have not increased. A week ago the price of turmeric had increased, but it has been on a decreasing trend for the past one week. Farmers having huge old stocks have brought a good number of bags to sell, though they are not getting feasible prices. Traders who have little upcountry demand are buying limited stocks, while stockists are buying huge quantities,” said R.K.V. Ravishankar, a trader.

He said on Friday morning the price of turmeric futures was in negative territory and traders quoting decreased prices purchased a good number of bags. Buyers purchased 75 per cent of the stock that had arrived in the market.

The price of hybrid and local turmeric varieties decreased by Rs 100 to Rs 150 a quintal. But the sale in the Regulated Marketing Committee and Gobichettipalayam Agricultural Marketing Society was encouraging.

At the Erode Turmeric Merchants' Association sales yard, finger turmeric was sold at Rs 5,500 to Rs 8,789 a quintal. The root variety was sold at Rs 5,111 to Rs 7,829 a quintal. Of the arrival of 1,850 bags of turmeric, 1,097 bags were sold.

At the Regulated Marketing Committee, finger turmeric was sold at Rs 7,789 to Rs 8,469 a quintal, the root variety was sold at Rs 7,069 to Rs 8,089 a quintal. Of the 1,290 bags of turmeric, 1,191 bags were sold.

At the Erode Cooperative Marketing Society finger turmeric was sold at Rs 7,088 to Rs 8,734 a quintal, the root variety was sold at Rs 6,909 to Rs 8,090 a quintal. Out of 1,037 bags of turmeric kept for sale, 801 were sold.At the Gobichettipalayam Agricultural Cooperative Marketing Society, finger turmeric was sold at Rs 7,189 to Rs 8,956 a quintal and the root variety at Rs 6,779 to Rs 8,199 a quintal. All the 84 bags of turmeric placed for sale were sold.

Published on July 29, 2017
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