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Spot turmeric prices increased on Monday as local traders received some upcountry demand.
Arrivals increased to 900 bags at all the markets and 65 per cent was sold. The finger variety increased by Rs 100 a quintal and the root variety by Rs 150. Almost all the medium variety turmeric kept for sale were sold. At the Erode Turmeric Merchants Association, the finger variety went for Rs 7,549-8,711 a quintal; the root variety Rs7,389-7,899. Of the arrival of 525 bags, 320 were sold. According to ground level sources,Turmeric crop damaged mainly due to drought hit in Erode and Salem regions.If rain not occurred in coming days 50% to 60% of crop going to damage is expected ,Currently 20% to 30 % crop damaged. And on NCDEX accredited warehouses Turmeric stocks has marginally declined to 2319 MT from 2504 MT as compared to previous week which may support the price on higher side. For More Details Visit us @ http://www.tradebizzindia.com/freetrial.php
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