According to R.K.V. Ravishankar, President of Erode Turmeric Merchants’ Association, prices will improve from June since orders from the North are likely to flow.Prices have dropped by Rs 500 a quintal in the last five sessions.
On Friday, prices dropped despite poor arrivals due to lack of demand. Usually, traders get upcountry orders at this point of time. But due to severe heat, North Indian merchants have not placed any order. Further, they have started buying from other parts of country.
Even in Erode, traders are getting Assam turmeric at lower prices. Ravishankar said currently, only a few exporters have received upcountry orders for super fine root variety. Also, local traders were able to fulfil only 40-50 per cent of the requirement as only medium variety turmeric is available here now.
At the Erode Turmeric Merchants Association sales yard on Friday, finger variety sold at Rs 4,444 to Rs 7,811 a quintal and the root variety at Rs 4,199-6,674. Salem hybrid crop’s finger variety sold at Rs 5,591-8,755 and the root variety at Rs 5,499-7,399. Of the 1,216 bags that arrived, 25 per cent was sold.
