Commodities

Turmeric seen falling on new crop arrivals

Our Correspondent Erode | Updated on March 19, 2012 Published on March 19, 2012

BL20_P19_TURMERIC

Spot turmeric dropped by Rs 200 a quintal as more than 19,000 bags arrived on Monday. Demand was limited even as futures was stable at Rs 4,300 a quintal, said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

Prices in Nizamabad and Sangli were similar, following which buyers quoted lower and bought hand-to-mouth, he said. Prices may go down further when in the first week of April more new crop arrives from Erode, Gobichettipalayam and Kodumudi, he added.

The hybrid Salem crop also decreased by Rs 200 a quintal due to poor quality. Stockists bought 40 per cent of the arrivals. Local traders purchased bought limited stocks to fulfill orders received from spices firms. Exporters and other traders are expecting bulk orders from north India.

In the Erode turmeric merchants Association sales yard, the finger variety fetched Rs 2,469-3,869 a quintal and the root variety Rs 2,411-3,286.

Salem Crop: The finger variety was sold at Rs 3,300-4,217 a quintal and the root variety at Rs 3,011-3,369. Totally, 5,712 bags arrived, of which 2,019 were sold.

At the Regulated Marketing Committee, the finger variety was sold at Rs 3,279-3,856 and the root variety at Rs 2,977-3369. Out of the 1,223 bags that arrived, 1,100 bags were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 2,810-3,851 a quintal and the root variety at Rs 2,569-3,600. All the 498 bags that arrived were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 2,979-3,979 a quintal and the root variety at Rs 2,901-3,489. Out of the 1,027 bags that arrived, 1,025 were sold.

Published on March 19, 2012
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