Turmeric price stable

The price of the turmeric was stable on Wednesday.

R.K.V. Ravishankar, President, Erode Turmeric Merchants Association said: “The arrival of turmeric was medium and 2,189 bags of turmeric had arrived and kept for sale. But only 1,053 bags (50 per cent) was sold for want of demand. The buyer traders after examining the samples have purchased limited stock for their requirement alone and they do not wanted to stock the turmeric. Even the stockists -- those expecting a price hike in future, also kept quiet and did not procure the turmeric. The traders feel the Diwali sale may commence by next week after the Durga pooja (Saraswathy festival and Vijayadasami).”

He said there was no improvement of price at the Turmeric Futures and is still in minus status. Farmers also brought only medium quality turmeric. He said if the demand increases the farmers may bring some good quality turmeric for sale.

At the Regulated Marketing Committee, the arrival was low but all the arrived 171 bags were sold. No turmeric was arrived for sale at the Gobichettipalayam Agricultural Marketing Society.

The farmers said the present price is not feasible for them, but they selling some quantity for their domestic expenses.

At the Erode Turmeric Merchants Association sales yard, the finger turmeric was sold at ₹5,059 to ₹6,069 a quintal, the root variety was sold at ₹4,669 to ₹5,677 a quintal. Of the arrival of 1,712 bags of turmeric only 665 bags were sold.

At the Regulated Marketing Committee the finger turmeric was sold at ₹5,069 to ₹5,931 a quintal, root variety was sold at ₹4,544 to ₹5,589 a quintal. All the 171 bags of turmeric placed for sale, were sold.

At the Erode Cooperative Marketing Society, the finger turmeric was sold at ₹5,259 to ₹6,014 a quintal, the root variety was sold at ₹4,769 to ₹5,724 a quintal. Of the 306 bags, 217 bags were sold.

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