Spot turmeric prices decreased by Rs 300 a quintal on Thursday as arrivals continue to swamp the markets in Erode.

Traders said few stockists placed tenders and bought little quantities. Traders who received new orders from Madurai, Tuticorin and other parts of Kerala quoted lower price as they expect prices to decrease further.

Bulk buyers quoted higher and bought a few bags of quality goods and the hybrid Salem crop. Only 50 per cent of the arrivals were sold.

The hybrid Salem crop fetched Rs 4,529 a quintal, Rs 300 more than Wednesday, as quality goods arrived. Exporters said they are awaiting for new orders from north Indian towns even as futures were unchanged at Rs 3,400 a quintal.

At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 2,401-3,611 a quintal and the root variety at Rs 2,411-3,395.

Salem Crop: The finger variety was sold at Rs 3,856-4,529 and the root variety at Rs 3,411-3,661. Out of the 2,532 bags that arrived, 1,300 were sold.

At the Regulated Marketing Committee, the finger variety fetched Rs 3,279-3,684 and the root variety Rs 3,269-3,492. Out of the 1,649 bags that arrived, 1,635 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 2,817-3,868 and the root variety at Rs 2,547-3,490. All the 390 bags that arrived were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 2,936-3,856 and the root variety at Rs 2,806-3,496. All the 1,106 bags that arrived were sold.

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