Spot turmeric prices decreased on Wednesday on the back of fresh upcountry orders lacking and inferior quality of arrivals.

“Despite poor arrivals, prices declined and sales also remained at 45-50 per cent of offerings. This was due to non-receipt of fresh upcountry demand. We are expecting fresh demand only after Holi. Further, only medium variety turmeric is arriving for sale. Even Salem turmeric variety was sold at Rs.9,200 a quintal. Only 40 bags of Salem turmeric arrived and 20 were sold,” said RKV Ravishankar, President, Erode Turmeric Merchants Association.

For want of demand, the price of new turmeric decreased by Rs.100-200 a quintal. Traders purchased all the 700 bags of new turmeric. The finger turmeric lost Rs.500 in the Regulated Market Committee and Rs.200 in the Erode Cooperative Marketing Society.

At the Erode Turmeric Merchants Association sales yard, the finger variety old turmeric was sold at Rs.6,119-8,550 a quintal and the root variety Rs.5,809-7,944.

New turmeric variety: The finger variety fetched Rs.6,786-8,766; the root variety Rs.6,536-7,817. Of the 1,449 bags that arrived, 408 were sold.

At the Regulated Market Committee, the finger turmeric went for Rs.7,237-8,134; the root turmeric Rs.6,923-7,801. Of the 774 bags on sale, 700 were sold.

At the Erode Cooperative Marketing Society, the finger turmeric was sold at Rs.7,419-8,400 and the root variety Rs.6,799-7,799. Of the 625 bags offered, 618 found takers.At the Gobichettipalayam Agricultural Cooperative Marketing Society, the finger turmeric was sold at Rs.6,590-8,312 and the root turmeric Rs.5,690-7,328. All the 49 bags were traded.

Source :-Business Line