Spot turmeric prices at Erode continued to increase as orders flowed from North India.
“Traders in Erode received more upcountry orders, so they are quoting higher price. Prices in the futures market increased by ₹100 a quintal and it reflected in the local market also. Traders bought 3,000-and-odd bags against the arrival of 4,300 bags,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.
As superfine hybrid finger turmeric arrived, traders quoted ₹8,409 a quintal, ₹650 higher than Tuesday’s price. The price of the hybrid root turmeric was also up ₹250. Similarly, other varieties were increased by ₹250-300 a quintal.
At the Erode Turmeric Merchants Association sales yard, the finger variety turmeric was sold at ₹4,500-7,209 and the root variety ₹4,389-6,900 a quintal.
Salem Hybrid: The finger variety quoted ₹6,599-8,409; the root variety ₹6,306-7,191. Of the 1,802 bags that arrived, 932 were sold.
At the Regulated Market committee, the finger variety fetched ₹6,614-7,269; the root variety ₹6,194-7,083. Of the 938 bags on offer, 934 were traded.
At the Erode Cooperative Marketing Society, the finger variety ruled at ₹6,387-7,290; the root variety ₹6,291-7,034. All the 836 bags found takers.
At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger variety was sold at ₹6,083-7,200; the root variety ₹5,577-6,989. All the 110 bags were sold.
– The Hindu