Spot prices of turmeric decreased at the marketsin Erode on Monday owing to poor buying.
“On the opening day of the week (Monday) the arrival of turmeric bags were low; only 1,362 bags arrived for sale. Despite low arrivals, the prices decreased by ₹ 100-150 a quintal for finger turmeric. This decrease is due to the poor demand received by traders. The traders purchased 70 per cent of the arrived turmeric,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
The price of finger turmeric decreased by ₹ 100 a quintal at the Erode Turmeric Merchants Association sales yard and ₹ 150 a quintal at the Regulated Marketing committee due to quality, when compared to last week end market report.
At the Erode Turmeric Merchants Association sales yard, finger turmeric was sold at ₹4,850- 5,959 a quintal, the root variety was sold at ₹ 4,539-5,669. Of the arrival of 528 bags, 269 bags were sold.
At the Regulated Marketing Committee, finger turmeric was sold at ₹ 4,766-5,789 a quintal, root variety was sold at ₹ 4,656-5,539 a quintal. Of the 271 bags of turmeric placed for sale, 243 were sold.
At the Erode Cooperative Marketing Society, the finger turmeric was sold at ₹4,499-5,899 a quintal, root variety went for ₹ 4,059-5,699 a quintal. Of the 263 bags of turmeric brought for sale, 251 were sold.