Turmeric rebounds to Rs 5,000 a quintal

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ERODE, FEB. 9:

Spot turmeric prices increased by Rs 100-150 a quintal on Thursday to touch a four-month of Rs 5,000 following upcountry demand.

“After four months time, the price touched Rs 5,000 a quintal on Thursday. Buyers quoted higher price for quality arrivals. Also, they have got demand from Patna, Delhi and Maharashtra.

“Arrivals topped crossed 10,000 bags and sales were very encouraging with 80 per cent being picked up at the auctions,” said Mr R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said after some months, the minimum price fetched for both the varieties of turmeric increased to Rs 4,000 a quintal. Very fine varieties of old crop which were brought to the market by some farmers, fetched good price.

Of the total arrival of 10,000- odd bags of turmeric, the new crop will be around 6,500 bags. In Gobichettipalayam Cooperative Marketing Society, 511 bags of old crop arrived, and because of the fine variety, prices were increased. All bags were sold.

The price of the Hybrid Salem crop also increased due to its quality. At the Erode Turmeric Merchants Association sales yard, the finger variety (old crop) was sold at Rs 3,716-4,859 a quintal, the root variety Rs 3,566-4,495.

The finger variety (new crop) was sold at Rs 3,499-4,519. The root variety Rs 3,220-4,366.

Salem crop: The finger variety was sold at Rs 4,220-5,395, the root variety Rs 4,196-4,574. Totally 2,609 bags of turmeric (1,936 of new turmeric, 673 old crop) arrived for sales, of that 2,100 were sold.

At the Regulated Marketing Society, the finger variety (Old crop) was sold at Rs 4,599-4,989, the root variety Rs 4,016-4,300.

The finger variety (New Crop) was sold at Rs 4,019-4,679, the root variety Rs 3,850-4,219.

Source: http://www.thehindubusinessline.com/markets/commodities/article2875920.ece

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