Erode (TN),July 29: Turmeric price was on the decline and selling below Rs 7000 per quintal in the Regulated Marketing Committee here, trade sources said.
Turmeric traders said for want of demand and also heavy arrival of more than 14000 bags (each bag contains 65 kg) the prices declined by Rs 500 per quintal on Friday.
The price in the Regulated Marketing Committee has reached Rs 6986 per quintal, as against Rs 8419 per quintal sold in the beginning of July.
The traders said they are not receiving any fresh orders from North India and hence buying limited stocks to meet local orders.
At the Erode Turmeric Merchants Association salesyard, finger variety was sold at Rs 5236 to Rs 7039 per quintal, root variety Rs 5161 to Rs 6264 per quintal.
Other centres:e Gobichettipalayam Agricultural Cooperative Marketing Society: finger variety Rs 5050 to Rs 7050 per quintal; root variety Rs 5010 to Rs 6369 per quintal.
Erode Cooperative Marketing Society: finger variety Rs 5069 to Rs 7009 per quintal; root variety Rs 5739 to Rs 6189 per quintal.
Regulated Marketing Committee: the finger variety Rs 6472 to Rs 6986 per quintal; root variety Rs 5690 to Rs 6299 per quintal. Sources said on Friday out of total arrival of turmeric for sale, only 45 per cent of the stocks were sold.