Turmeric loses colour on selling pressure



Turmeric prices continued to rule lower in Erode markets on Monday as farmers sold their produce at current prices as they need cash.

On the other hand, there is lurking fear that traders in North India are holding stocks and it is the reason why demand is yet to set in from there.

“Our traders are hopeful of getting fresh orders within a week’s time”, said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

Prices in other centres ruled at Rs 5,500 auqintal, while on the futures market turmeric was quoted at Rs 4,700.

Arrivals dropped to 3,700 bags on Monday, and 65 per cent was sold.

At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 3,519-5,897 a quintal, the root variety Rs 3,396-5,471 .

Salem hybrid crop: The finger variety was sold at Rs 5,158-6,417, the root variety Rs 4,900-5,811.

Of 860 bags that arrived, 510 were sold.

At the Regulated Market Committee, the finger variety was sold at Rs 5,000-5,864, the root variety Rs 4,790-5,590.

Of 617 bags on offer, 463 found takers.

At the Erode Cooperative Marketing society, the finger variety was sold at Rs 4,799-5,900.

The root variety was sold at Rs 4,699-5,505.

Of the arrival of 599 put up for sale, 529 were traded.

At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety fetched Rs 5,177-6,210, the root variety Rs 4,801-5,199.

All the 333 bags were sold.

Source: The Hindu


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