The increase in Turmeric price at the Erode market has created cheer among the turmeric farmers.
Turmeric was sold at Rs 5960 a quintal at the beginning of the year and the popular Salem hybrid finger turmeric was sold at Rs 6459 a quintal on January 2. The price increased gradually and on February 3, it was sold at Rs 6596 a quintal and the hybrid variety at Rs 7191 a quintal.
Now the price has touched Rs 7000 a quintal and the hybrid at Rs 8000 a quintal.
President of Erode Turmeric Merchants Association, R K V Ravishankar said the price of the turmeric is slowly increasing at Erode market.
Though the upcountry orders were very negligble, traders have started buying new turmeric and sold to merchants in north India after polishing them.
The traders and exporters of turmeric have received reasonable orders from North India, he said.
The turmeric price at Nizamabad, Warrengal and Sangli are higher than Erode but only in Erode quality turmeric was available. In two months, about one lakh bags of turmeric was sold, trade sources said.
Within three months the price has increased by Rs 1100 a quintal of local finger turmeric and Rs 1500 a quintal of hybrid finger turmeric.
On Wednesday the finger variety turmeric was sold at Rs 6169 to Rs 7089 a quintal, root variety at Rs 5769 to Rs 6904 a quintal in the Regulated Market Committee.
At the Erode Turmeric Merchants Association sales yard, the finger turmeric was sold at Rs 4709 to Rs 6904 a quintal, root variety Rs 4509 to Rs 6599 a quintal. The Hybrid finger variety was sold at Rs 6191 to Rs 7629 a quintal, root variety at Rs 6717 to Rs 6700 a quintal. A total number of 3200 bags of turmeric arrived for sale but 1900 bags were sold.
