Turmeric rises despite higher arrivals

Despite the arrival of over 14,000 bags of turmeric in Erode markets on Thursday, prices increased by Rs 400 a quintal. The Salem crop price increased Rs 700 a quintal.

“Erode traders have received good orders from other States, especially from North India, so the sale of turmeric is very high. Out of 14,000-odd bags, 70 to 75 per cent were sold for good prices,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association, on Thursday.

“The sales report from other centres will be available only in the evening, so the price trend will be reflected only in Friday's sales. On Thursday, both finger and root varieties prices improved by Rs 400 and Rs 300 a quintal respectively. Good competition was seen among the bulk buyers. We are expecting the same price trend to continue for ten days,” said Mr Ravishankar.

“There is heavy arrival of Dharmapuri, Mysore and number eight varieties. All the varieties have fetched good prices, which was highly remunerative for the farmers. Because of the price increase and demand, the turmeric growers will bring more to the market in the coming days,” said traders.

At the Erode Turmeric Merchants Association Sales yard, the finger variety fetched Rs 7,079-12,769 a quintal, root variety quoted Rs 7,899-11,614.

Salem Crop: The finger variety was sold at Rs 13,010-14,100 and the root variety at Rs 11,410-11,710. Out of an arrival of 3,937 bags, 867 were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 10,727-12,530 a quintal, the root variety at Rs 8,800-11,559. Out of the 334 bags that arrived, 306 were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 11,409-12,650, the root kind ruled at Rs 9,999-11,409. All the 34 bags kept for sale were sold.

At the Regulated Marketing Committee, the finger variety sold at Rs 10,789-12,608 a quintal and the root variety Rs 10,216-11,666 a quintal. Out of the 1,094 bags that arrived, 954 were sold.