Turmeric loses colour as N. India orders dry up

Lack of new orders from merchants in North India pulled down spot turmeric on Tuesday. However, futures were stable.

“No exporter has received fresh orders from North India. Spot decrease by Rs 200 a quintal,” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

On Tuesday, 11,000-odd bags arrived for sales, of which 60 per cent was sold. Stockists bought only over 3,500 bags as they have adequate stocks. They may sell if prices improved, traders said

Bulk buyers and exporters expect that they may get new orders from next week.

At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 3,896 to Rs 6,194 a quintal, the root variety at Rs 3,709 to Rs 5,989 a quintal.

Salem hybrid crop: The finger variety was sold at Rs 6,199 to Rs 6,989 a quintal, the root variety at Rs 5,804 to Rs 6,189 a quintal. Of the 1,635 bags that arrived, 790 were sold.

At the Regulated Marketing Committee, the finger variety was sold at Rs 5,749 to Rs 6,359 a quintal, the root variety at Rs 5,579 to Rs 6,035 a quintal. Of the 1,227 bags that arrived, 881 were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 5,293 to Rs 6,389 a quintal, the root variety Rs 5,219 to Rs 6,015 a quintal. Of the 1,520 bags that arrived, 1,488 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 5,369 to Rs 6,280 a quintal, the root variety Rs 5,410 to Rs 5,939 a quintal. All the 123 bags kept for sales were sold.

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