Erode traders buy turmeric from Nizamabad

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ERODE, FEB. 1:

Farmers here lost some orders to their counterparts in Nizamabad, where spot turmeric was Rs 1,000 a quintal cheaper. Traders and a few stockists bought more than 200 bags from there.

A bag here costs Rs 6,200 against Rs 5,200 in Nizamabad and even after including the Rs 400 a quintal spent on drying and polishing, Erode turmeric costs Rs 600 more, a trader said.

Erode Turmeric Merchants Association President R.K.V. Ravishankar said: “As usual, 3,000 bags arrived for sale at Erode and traders purchased a fifth of that, mainly the quality variety. Stockists purchased 40 per cent of the stock, expecting an increase in price in the middle of the year. Prices are stable, and till date no exporter has received any fresh orders from North India.”

He said farmers had more than 25 lakh bags, which was harvested in 2012, and this year also they are expecting more than 10 lakh bags would be harvested. So prices may fall till September. Farmers said they had begun harvesting as water had started flowing in the Kalingarayan and the LBP canal. At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 4,491-6,274 a quintal, the root variety at Rs 4,286-5,577.

Salem hybrid crop: The finger variety was sold at Rs 6,072-6,609, the root variety at Rs 5,319-5,777. Of the 704 bags that arrived, 239 were sold.

At the Regulated Market Committee, the finger variety was sold at Rs 5,339-6,403, the root variety at Rs 5,159-5,769. Of the 1,036 bags that arrived, 1,013 were sold.

At the Erode Cooperative Marketing Society, the finger variety was sold at Rs 5,419-6,379, the root variety at Rs 5,169-5,619. All the 148 bags kept for sale were sold.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at Rs 5,301-6,272, the root variety at Rs 4,201-5,912. All the 31 bags kept for sale were sold.

Source: Business Line

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