Turmeric price crosses ₹10,000 a quintal at regulated markets

Arrival of fresh turmeric and increase in demand has pushed the price of turmeric to ₹10,000 a quintal at the regulated markets here.

Known for its curcumin content that range from 2.5% to 4.5%, the crop is grown is over 10,200 acres at Erode, Modakkurichi, Kodumudi, Bhavani, Anthiyur and Gobichettipalayam areas and is auctioned at the Erode and Perundurai regulated markets and also at the Agricultural Producers Cooperative Marketing Societies at Karungalpalayam in Erode and at Gobichettipalayam.

While the old turmeric was auctioned for less than ₹6,000 a quintal all these years, new turmeric fetched around ₹7,000 a quintal. Hence, large quantities of turmeric were stocked in godowns and were brought to the markets when price improved.

V.K. Rajamanickam, former secretary, Erode Turmeric Merchants and Godown Owners’ Association (Erode Manjal Vanigarkal Matrum Kidangu Urimaiyalargal Sangam) told The Hindu that due to COVID-19, the demand for turmeric, that help boost immunity, has picked up both at domestic and global markets whereas there is a shortfall in supply. “Area under cultivation across the country dropped by 20% in 2020 while there is a good demand in 2021”, he said and added that the price of turmeric is expected to increase in the next three months.

While the finger variety was auctioned between ₹7,913 a quintal and ₹10,011 a quintal on Wednesday, bulb variety was auctioned between ₹7,699 a quintal and ₹9,088 at the Erode Regulated Market.

On Friday, finger variety was auctioned between ₹7,589 and ₹9,759 a quintal, while bulb variety was auctioned between ₹7,529 and ₹9,129 a quintal.

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Printable version | Apr 15, 2021 3:25:19 PM |

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