ERODE: For the first time since 1954 when the turmeric market started functioning in the district, the procurement price of fresh turmeric crossed Rs 20,000 per quintal on Wednesday. The previous highest was Rs 17,500 per quintal that was recorded in 2010-2011.
Erode is the second largest turmeric market in the country after Nizamabad in Telangana. Auctions are held every day at four places —the agricultural producers cooperative marketing societies in Gobichettipalayam and Karungalpalayam, regulated market at Perundurai and in the market complex owned by Erode turmeric merchants and godown owners association.
Speaking to TNIE, M Sathyamurthy, Secretary of the Erode turmeric merchants and godown owners association, said, “Never before in the district’s history did fresh turmeric price cross Rs 20,000 per quintal.On Wednesday, it touched Rs 20,500 (finger variety). The procurement price of bulb variety touched Rs 18,300 per quintal. As for old turmeric, the price of finger variety went up to Rs 16,900 per quintal and that of bulb variety was Rs 15,900 per quintal. Also, for the first time, 726 lots came to the market on Wednesday.”
Horticulture and plantation crops officials said, “As the purchase price of turmeric has increased, we expect more farmers to cultivate turmeric this year. The price of seed turmeric has risen to Rs 45 per kg from Rs 15-20.”