Turmeric price decreasing

Prices of turmeric is showing a decreasing trend during the last few weeks in the Erode turmeric market, one of the largest markets in the country after Sangly in Maharashtra.
During this year the new turmeric Mysore 8 variety arrived for sale only in the first week of February and from March some other varieties were also started arriving.
Initially the new variety was sold at Rs 7000 a quintal and slowly it improved and was sold at Rs 7800 a quintal during the last week.
However, now the prices for Mysore 8, Spot and finger varities started decreasing sharply for the past four days.

R K V Ravishankar, a trader said that on January 3 old turmeric finger variety was sold at Rs 8619 a quintal and the root variety fetched Rs 8409 a quintal.
Slowly the price improved and after fluctuation for the past two months, the finger turmeric was sold at Rs 9011 a quintal and the root variety by Rs 7715 a quintal.

But for the past one week, there was no demand from North India, following which the traders quoted decreased price and purchased less quantity of turmeric.
The price price was decreased today and was sold at Rs 8389 a quintal of finger turmeric and Rs 7220 a quintal of root variety.

Only 30 percent of the arrived 1274 bags were sold in the Turmeric Merchants Association Sales yard.
In the Regulated Marketing Society only 33 bags of turmeric was sold as against the arrival of 404 bags. Traders said for want of demand, they are buying limited stock by quoting decreased price.
Due to severe drought, failure of monsoon rains farmers cultivated only one fourth of the regular cultivation in Erode district.
The Association sources said within four days the finger variety was decreased by Rs 700 a quintal and root variety by Rs 500 a quintal.