Commodities

Turmeric: Futures gains, spot steady

Our Correspondent Erode | Updated on August 27, 2020

Spot turmeric prices remained stable at the markets in Erode, while sales registered an increase.

“Though medium quality turmeric arrived for sale, buyers purchased good number of turmeric bags for their local demand and negligible upcountry orders. But they did not quote higher price. The sale of turmeric at the Regulated Marketing Committee and also at the Erode Cooperative Marketing Committee stood at 100 per cent. Medium sale was recorded in other markets, due to quality. The traders were cautious in buying as they are still waiting for more upcountry orders”, said RKV Ravishankar, President, Erode Turmeric Merchants Association.

He said the price at the turmeric futures remained in upward trend but the buyers did not quote increase price on the spot market

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At the Erode Turmeric Merchants Association sales yard, finger turmeric was sold at ₹5,199-6,349 a quintal, root variety was sold at ₹4,869-5,769 a quintal. Of the arrival of 1,442 bags, 695 bags were sold.

At the Regulated Marketing Committee, finger turmeric was sold at ₹4,867-6,166 a quintal, root variety went for ₹4,699-5,656 a quintal. All the 705 bags of turmeric were sold.

At the Erode Cooperative Marketing Society, finger turmeric was sold at ₹4,869-6,189 a quintal, root variety went for ₹4,636-5,620 a quintal. All the 424 bags on offer were sold.

Published on August 27, 2020

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