Due to poor demand for turmeric, prices were down ₹9,000 a quintal.
“Turmeric growers are bringing very limited stock for sale due to poor upcountry demand. Farmers brought only 4,400 bags on Monday and 70 per cent of the stock was sold. Buyers also quoted decreased price. Further, due to the Tamil Nadu Assembly Election and implementation of model code of Conduct Rules by the Election authorities, buyers were reluctant to take huge money for buying the commodity. Similarly, farmers were also frightened to take huge money,” said RKV Ravishankar, President of Erode Turmeric Merchants Association.
He said arrival to other North Indian turmeric markets also saw a dip and Nizamabad market was closed on Monday due to some local problem between traders and the government. In other markets too, prices saw a downward trend.
Regarding the price of the commodity, the price of finger variety declined below ₹9,000 a quintal in the Erode Cooperative Marketing Society. Till last week, prices, though decreased, were above ₹9,000 a quintal. In other markets too, prices were much lower than last month. On Monday, prices of finger variety decreased ₹200 a quintal and the root variety by ₹150 a quintal.
At the Erode Turmeric Merchants Association Sales yard, finger turmeric sold at ₹8,309 to ₹9,019 a quintal; root variety sold at ₹8,014 to ₹8,466 a quintal. Of the total arrival of 902 bags, 544 were sold.
At the Regulated Market Committee finger turmeric sold at ₹7,899 to ₹9,029 a quintal, root variety at ₹7,769 to ₹8,695 a quintal. Of the 412 bags for sale, 382 were sold.
At the Erode Cooperative Marketing Society finger turmeric was sold at ₹7,989 to ₹8,870 a quintal, root variety at ₹7,960 to ₹8,514 a quintal. Of the arrival of 1236 bags, 1,136 bags were sold.