Turmeric price increased by
Rs 450 a quintal in the private turmeric market in seven days, trade sources said today.
R.K.V. Ravishankar, President, Erode Turmeric Merchants Association said, price of the hybrid Salem turmeric increased by Rs 612 a quintal.
Due to the death of a member of the Erode Turmeric Merchants Association, the private turmeric market and Cooperative societies declared holiday on Friday for the markets.
Turmeric sale was conducted only in the Regulated Market Committee, but only small traders attended the sale, quoting decreased price. The price of the finger variety was decreased by Rs 500 a quintal while the root variety Rs 300 a quintal.
Farmers said because of the non-participation by regular traders and turmeric exporters the prices were decreased.
The turmeric farmers said within seven days 25,000 bags of turmeric arrived for sale and more than 70 per cent stocks were sold.Traders said they are expecting good number of upcountry orders by the end of this month when the price of the commodity may increase.
Meanwhile, the four markets will be closed from January 11 to 19 for Pongal festivities.They will reopen on January 20.
