The price of turmeric is in downward trend at the Turmeric futures.

“Further dip in price was seen in all the four turmeric markets at Erode. Such decrease is due to the quality of the arrived turmeric and also poor upcountry demand for the turmeric. The second season for turmeric will begin by September, so the buyers mainly the traders are not willing to quote increased price for the turmeric and the they are expecting the present price may remain for another few days and only after starting of the second season the price may improve or decrease which depends upon the demand receive by them from north India”, said R K V Ravishankar, a trader.

He said at the weekend market 4,300 bags arrived for sale and 70 per cent stocks were sold. The buyers have purchased all the hybrid varieties and some local varieties.

The price of the hybrid turmeric decreased by ₹200 a quintal of finger turmeric and 150 of root variety. The local turmeric varieties were decreased by ₹200 a quintal.

At the Erode Turmeric Merchants Association Sales yard, finger turmeric sold at ₹6,000 to ₹8,800 a quintal, the root variety sold at ₹5,200 to 8,200 a quintal. Of the arrival of 2,031 bags 1,120 bags were sold.

At the Regulated Marketing Committee, finger turmeric fetched ₹7,489 to 8,600 a quintal. The root variety sold at ₹7189 to 8,346 quintal. Out of 1,438 bags 1,142 bags were sold.

At the Erode Cooperative Marketing Society finger turmeric sold at ₹7,389 to 8,769 a quintal, root varietysold at ₹7,279 to 8,284 a quintal. Of the 984 bags 827 bags were sold.