ERODE: Turmeric price once again witnessed a significant increase in the regulated market in the district. This time, the price has gone up by Rs 2,000 per quintal in comparison to last month. Freshly harvested turmeric is sold at Rs 10,500 per quintal while old stock is sold at Rs 10,000.
Farmers, however, said production decreased by 25 per cent compared to last year as poor returns forced many to shift to cultivating tapioca and other crop.
With prices rising, there is a buzz in the regulated market as hordes of farmers from across Tamil Nadu and Karnataka are converging on Erode. Speaking to TNIE, Erode Turmeric Merchants Association Secretary M Sathyamoorthy said that the main reason for the rise in price is the increase in exports and suppy constraints. "Compared to last year, exports increased by around 40 per cent-- up to 1.60 lakh tonne of turmeric is exported to Bangladesh, Malaysia, Singapore, Gulf nations and countries with a significant population of Non-Resident Indians," he added.
He added that turmeric arrival from Nizamabad to Erode has reduced to 30 per cent and cultivation of turmeric in Tamil Nadu has also dipped. That apart, since production in Maharastra's Nanded and Basmath have decreased due to harsh weather conditions, the demand for turmeric produced in Tamil Nadu has gone through the roof.
Currently, turmeric harvested in Dharmapuri is brought to Erode. Meanwhile, harvest has started in Kodumudi which is a major supplier.