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Spot prices of the hybrid turmeric declined in Erode markets on Monday due to inferior quality.
“Due to very poor quality arrival the price of the hybrid finger decreased by ₹800 a quintal. Traders quoted lower price and purchased all the 100-and-odd bags,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
On Monday, only 2,500 bags of turmeric arrived for sale, of which 1,200 were sold. The local finger variety was up ₹100 a quintal.
The traders said that they may get fresh orders from North India by mid-August when there is possibility of increase in price for the quality turmeric.
At the Erode Turmeric Merchants Association sales yard, the finger turmeric fetched ₹4,479-6,235 a quintal; the root variety ₹4,232-6,326.
Salem Hybrid: The finger variety was sold at ₹5,866-7,200 and the root variety ₹5,674-6,470. Of the 479 bags on sale, 98 were sold.
At the Regulated Market Committee, the finger turmeric fetched ₹5,609-6,588 and the root variety ₹5,513-6,488. Of the 547 bags on offer, 508 were traded.
At the Erode Cooperative Marketing Society, the finger turmeric quoted ₹5,649-6,638; the root variety ₹5,550-6,488. All the 754 bags were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric was sold at ₹5,680-6,380; the root variety ₹5,368-6,299. All the 130 bags found takers.
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