Commodities

Turmeric pounded as supply rises

Our Correspondent Erode | Updated on July 13, 2012 Published on July 13, 2012

BL26_AGRI_TURMERIC_GEU55DNNE.1+BL26_AGRI_TURMERIC.jpg

The prices of spot turmeric fell by Rs 300 a quintal on Friday. “The decrease was due to the increased arrival of turmeric for sale. Because the price increased a couple of days back, the farmers started bringing more turmeric bags. So the prices have decreased,” said the traders.

“Till date no exporter has received fresh orders from merchants in North India. Because of the heavy rain in the North, the merchants did not place any order. Only the stockists made purchases. Eighty per cent of the 8,000 bags of turmeric that arrived for sale on Friday was sold,” said Mr R. K. V. Ravishankar, President, Erode Turmeric Merchants Association.

He said on a day-to-day basis buying by the stockists has been decreasing. Most of the traders received local orders for fine variety turmeric. And they will buy the same from Monday. As only a few bags of the very fine variety Hybrid Salem Crop arrived for sale, it fetched Rs 6,619 a quintal, Rs 590 more than the previous price.

At the Erode Turmeric Merchants Association sales yard, the finger variety sold at Rs 2,499-4,930 a quintal, and the root variety, Rs 2,399-4,756.

Salem Crop: The finger variety sold at Rs 5,917-6,619 a quintal, and the root variety, Rs 5,094-5,509 a quintal. Of the 1,202 bags of turmeric that arrived, 789 bags were sold.

At the Regulated Marketing Committee, the finger variety sold at Rs 5,269-5,766 a quintal, and the root variety, at Rs 4,369-4,913. All the 811 bags of turmeric that arrived were sold.

At the Erode Cooperative Marketing Society, the finger variety sold at Rs 4,429-5,988 a quintal, and the root variety, at Rs 4,234-5,188. All the 1,105 bags of turmeric kept for sales were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety sold at Rs 3,579-5,699 a quintal, and the root variety, Rs 3,169-4,879. Of the 107 bags kept for sale, only one bag was rejected, the remaining 106 bags were sold.

Published on July 13, 2012
This article is closed for comments.
Please Email the Editor