Turmeric rules stable despite higher inflow

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ERODE, AUG 29:

Turmeric prices ruled stable on Thursday despite higher arrivals. About 6,500 bags of turmeric arrived for sale, but the prices remained the same.

“After several days, arrivals were huge in the four markets and 70 per cent was sold. Only two or three exporters purchased for the orders they have received recently,” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association.

He said the farmers brought huge stocks expecting good price but nobody quoted a higher price. However, growers willingly sold at quoted prices as they require money for agricultural operations.

Stockists said they had purchased about 1,000 bags on Thursday, as they feel the price may increase soon.

Due to the arrival of medium quality hybrid turmeric, the price decreased. The other varieties ruled stable.

At the Erode Turmeric Merchants Association sales yard, the finger variety was sold at Rs 4,391-5,895, the root variety Rs 3,511-5,134.

Salem hybrid crop: The finger variety was sold at Rs 5,714-6,819, the root variety Rs 4,894-5,809.

Of the 1,640 bags that arrived, 890 were sold.

At the Regulated Market Committee, the finger variety was sold at Rs 5,066-5,934, the root variety Rs 4,669-5,541. Of 1,040 bags on offer, 891 found takers.

At the Erode Cooperative Marketing society, the finger variety was sold at Rs 4,400-5,960. The root variety was sold at Rs 4,000-5,479 a quintal.

Of the 1,232 put up for sale, 1,228 were traded.

Source: The Hindu

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