ERODE: Turmeric farmers and traders hope procurement prices would go up in view of the upcoming festive season and may mirror last year's upward trend. They are holding on to their stocks and plan to sell if the price picks up.
The procurement price of turmeric in Erode markets has not seen a major increase this year.
On Monday, the price of fresh turmeric — finger variety — was between Rs 11,000 to 13,200 per quintal. The price of the bulb variety was Rs 11,600 per quintal.
The procurement price had crossed Rs 20,000 per quintal in March 2024. Farmers and traders expect the prices to shoot up like last year.
Farmers expected the price to increase this year but it has not so far belying their expectations.
The price of finger variety was Rs 14,700 on January 3, 2025. The price increased only slightly after that. Also, the price of fresh turmeric — finger variety — was Rs 15,700 on April 7. But the price didn't rise and instead dipped a little. However, the price has not experienced major fluctuations since the beginning of last June, say market sources.
But now that the festive season has begun, local farmers expect the procurement price to rise soon.
S Periyasamy, President of Lower Bhavani Ayacut Land Owners Association, said, "Prices have not increased this year like last year. However, as the festive season is about to begin, we expect prices to rise soon. I am also planning to sell the stocked turmeric if the price goes up. We expect the price of finger variety to increase between Rs 16,000 to Rs 17,000 per quintal by the end of this year."
M Sathyamurthy, Secretary of the Erode Turmeric Merchants and Godown Owners' Association, said, "Despite the demand for fresh turmeric in the market, the procurement price has not increased due to continued arrivals in the Erode markets from Maharashtra and Telangana.
The fresh turmeric season will soon end in Maharashtra. Similarly, the festive season usually begins at the end of August. Therefore, we expect the price of fresh turmeric in the Erode markets to increase in the coming days."