Turmeric price touches Rs 8k per quintal after three years
ERODE: Erode turmeric farmers are in seventh heaven after the price of turmeric touched Rs 8,000 a quintal in nearly three years. The regulated turmeric market was flooded with farmers from across Tamil Nadu and Karnataka who wanted to sell their produce at the newly-fixed price. Considering the high demand, cultivators hope that this price would continue for a few more months.
For the past five years, the price of turmeric, which was between Rs 5,000 and Rs 7,000 per quintal, had pushed most of its growers to cultivate alternative crops in the district. Only 4,000-5,000 hectares of land in Erode is used for turmeric cultivation. While turmeric from Karnataka, where harvest was delayed this time, started coming to the Erode market, district farmers are likely to start harvesting in March, sources said.
Speaking to TNIE, Erode Turmeric Merchants Association Secretary M Sathyamoorthy said that the price gradually increased after Pongal festival. “Old stock which was not brought to market for several years due to low prices is now sold at Rs 5,000 to Rs 7,000 per quintal. Last year’s stock sold up to Rs 8,000 per quintal,” he added.
He also said that the major demand for turmeric was in Bangladesh and the exports to Gulf countries, Malaysia, Singapore and other European countries increased by 40 per cent in the recent past.
Legacy of 150 years
The famed ‘Erode Manjal’ holds a legacy of 150 years. Kodumudi, Sivagiri, Bhavani, Gobichettipalayam, Anthiyur, Modakurichi, Sathyamangalam and Thalavadi are some prominent areas of cultivation in and around the district. In March 2019, Erode turmeric was conferred with the Geographical Indication tag by Geographical Indication Registry.