Spot turmeric prices for almost all varieties decreased by Rs 450 a quintal on Monday due to lack of demand and drop in quality.
“For want of demand from north Indian towns, traders quoted lower price at the Regulated Marketing Committee and finger and root varieties decreased by Rs 450 a quintal. Similarly, due to quality, prices hybrid Salem crop decreased by Rs 200 a quintal. But sales of the variety was encouraging, as all the 300-odd bags were sold. Overall, 60 per cent of the arrived stocks of 12,000-odd bags was sold.
“Both finger and root varieties in the Gobichettipalayam Agricultural Cooperative Marketing Society increased by Rs 250 a quintal, because of the arrival of quality goods. Prices in other markets were stable,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
For the past 15 days, arrival of turmeric is on the rise and due to quality and lack of orders, bulk buyers have been quoting a lower price.
He said that prices were ruling below Rs 4,500 a quintal, which is Rs 11,000 less than the last year price during this season. (Last year during the middle of December the turmeric was sold at Rs 16,000-odd a quintal)
At the Erode Turmeric Merchants' Association sales yard, the finger variety was sold at Rs 3,466-4,294 a quintal, the root variety Rs 3,232-4,064.
Salem Crop: The finger variety was sold at Rs 3,877-5,299, the root variety Rs 3,799-4,479. Totally, 2,488 bags arrived for sale and 598 were sold.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 3,827 -4,517 a quintal, the root variety Rs 3,769 - 4,250. Of 459 bags kept for sale, 408 were sold.
At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 3,769-4,389, the root variety Rs 3,889-4,279. About 1,226 bags were sold against the arrival of 1,446.
The Hindu
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