ERODE: Turmeric farmers in Erode district have two reasons to celebrate this year - turmeric prices have touched a new high and the farmers had a bumper harvest. The prices on Tuesday crossed Rs. 15,500 a quintal in the regulated market here. They are expected go up further following a huge demand for turmeric in the domestic and export markets this year, Erode Marketing Committee sources say.
Turmeric prices stood a little over Rs. 14,000 a quintal in April in the Erode market, which is the second largest in the country after Sangli in Maharashtra. The highest price registered in the market during the last fiscal is Rs. 13,500 a quintal. “Turmeric has fetched a good income for farmers during the last and the current fiscal. Earlier, the prices stood only at Rs. 5,500 a quintal,” the committee sources said.
The committee, which had earned over Rs. 2.14 crore as cess on the turmeric trade during the last year, is expecting to increase the revenue to many folds in the current fiscal. Over 30,000 tonnes of turmeric were traded through the regulated market in 2009-2010. In 2008-09 the market earned Rs. 1.28 crore from cess levied on 19,194 metric tonnes of turmeric.
Market sources said the prices started showing an upward trend since November last year and touched a new high during this month.
Currently the market gets over 2,000 bags of turmeric.