The price of the turmeric was increased. “The spot turmeric arrival remains low, and on Tuesday, 2,000 bags of turmeric arrived, for which buyers purchased 60 per cent to meet their local demand. The sale of turmeric at the Turmeric Merchants Association sales yard was low, too, as only 287 bags were sold as against the arrival of 1,101 bags (30 per cent). Only medium-quality turmeric arrived to all markets, and buyer-traders — for want of fresh upcountry demand — have purchased limited quantity of turmeric,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
“The price of some 45 bags of finger turmeric increased by ₹150 a quintal at the Erode Turmeric Merchants Association sales yard. Further, the prices of 30 bags of finger turmeric increased by ₹100 a quintal each at the Regulated Marketing Committee and the Erode Cooperative Marketing Society,” he added.
Ravishankar said the price of turmeric futures continues to decline, and so the buyers are cautious in quoting prices. They are expecting fresh demand by next week.
At the Erode Turmeric Merchants Association sales yard, finger turmeric was sold at ₹5,102-6,159 a quintal, and the root variety was sold at ₹4,759-5,729 a quintal.
At the Regulated Marketing Committee, finger turmeric was sold at ₹5,001-5831 a quintal, while the root variety was sold at ₹4823- 5650 a quintal. Of the 315 bags that arrived, 272 bags were sold.
At the Erode Cooperative Marketing Society, finger turmeric was sold at ₹5,209-6119 a quintal, and the root variety was sold at ₹4919- 5,599 a quintal. All the 448 bags of turmeric brought were sold.