Turmeric price increases by Rs 500 a quintal a month

Demand for turmeric is on the rise and prices have registered an increase, trade sources here said today.
Turmeric was sold at Rs 5820 a quintal on the last day of 2013. But since the beginning of this year, prices have gone up and the finger variety was sold at Rs 5960 a quintal and the root variety Rs 5469 a quintal,sources said.
R.K.V. Ravishankar, President, Erode Turmeric Merchants Association, said the demand for turmeric now has increased and fine variety turmeric is arriving for sale in all the four turmeric markets at Erode.
Within a month's time, turmeric price increased by Rs 500 a quintal and the hybrid price by Rs 1000 a quintal. The hybrid was sold at Rs 6459 a quintal on January 2 and it was sold at Rs 7400 a quintal today. Similarly regular finger variety was sold at Rs 5960 a quintal in the beginning of the month and it was sold at Rs 6499 a quintal today.

He said the price has also increased at other Turmeric sales centres of Nizamabad, Warangal and Sangli. Traders said that during this month alone about 56 thousand bags of turmeric arrived for sale and more than 35 thousand bags were sold.Of this 80 per cent stocks were exported to North India.
Today five thousand bags of turmeric arrived for sale and 70 per cent stocks were sold. The new turmeric was sold at Rs 6500 a quintal.

At the Erode Turmeric Merchants Association Sales yard (New crop), the finger variety was sold at Rs 4881 to Rs 6499 a quintal, root variety Rs 4532 to Rs 6299 a quintal.

(Old Crop) The finger variety was sold at Rs 3996 to Rs 6455 a quintal; root variety Rs 3670 to Rs 6409 a quintal.
Salem Hybrid crop: The finger variety fetched Rs 5860 to Rs 7400 a quintal;, root variety Rs 5410 to Rs 6716 a quintal. At the Regulated Market Committee, the finger variety was sold at Rs 5883 to Rs 6671 a quintal, root variety Rs 5771 to Rs 6609 a quintal.
At the Erode Cooperative Marketing Society finger variety was sold at Rs 5769 to Rs 6709 a quintal, root variety Rs 5439 to Rs 6669 a quintal while at the Gobichettipalayam Agricultural Cooperative marketing Society, finger variety was sold at Rs 5269 to Rs 6642 a quintal and root variety Rs 4372 to Rs 6589 a quintal.