Lack of orders and tepid sales have led to piling up of turmeric stocks in and around Erode.
“All the exporters and traders are disappointed as no fresh orders for the turmeric have been received from North India.
A week ago, they have received orders from Delhi and some other States. Now the exporters are busy in dispatching the stocks.
Some local traders and stockists are quoting decreased price and are buying limited stocks for their local orders, ” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.
He said that the traders are now in idle position, just visiting the market watching the arrivals and prices of both the varieties of turmeric. They are buying few quantities of the hybrid variety. Farmers are also bringing limited stock for want of proper price and sales. He said that the exporters and traders are saying that fresh orders will be received by them only in January when the prices may touch Rs 7,000 a quintal. Some lots of quality turmeric will get Rs 7,500-8,000 . The new crop will arrive by the third week or end of this month.
At the Erode Turmeric Merchants Association Sales yard, the finger variety was sold at Rs 4,089-5,319; the root variety Rs 3,886-4,619.
Salem Hybrid crop: The finger variety fetched Rs 4,599-5,649; the root variety Rs 4,439-4,965. Of the arrival of 1,296 bags, only 241 were sold.At the Regulated Marketing Committee, the finger variety was sold at Rs 4,372-5,409; the root variety Rs 4,279-5,099. Of the 654 bags arrived, 628 found takers.
At Erode Cooperative Marketing Society, the finger variety was sold at Rs 4,129-5,637 and the root variety Rs 4,029-5,131. Of the 635 bags arrived, 570 were sold. At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 4,587-5,539; the root variety Rs 3,889-5,196. All the 399 bags were sold.
Source: Business Line