ERODE: With Deepavali round the corner, the price of turmeric in the Erode market has hiked by Rs 500 per quintal in a week. The price of fresh turmeric (finger variant) on Wednesday was Rs 13,800 per quintal.
M Sathyamurthy, Secretary of the Erode Turmeric Merchants and Godown Owners' Association, said, "Turmeric prices, which did not face an increase in the last two months, have increased by Rs 500 per quintal in the last week. Last week, the price of fresh turmeric ranged between Rs 12,500 and Rs 13,250 per quintal. Prices have risen due to the festive season. Similarly, the price of bulb variety has also increased by Rs 500 compared to last week."
"With rain in the north-Indian states being more than usual, turmeric yields have been affected. We expect turmeric prices to rise significantly after December. But the full impact is yet to emerge; it may take two months," he added.
"There will be no trade in Erode turmeric markets from October 20 to 22 due to Deepavali. Besides, markets are closed as usual on Saturday and Sunday. So traders and farmers should plan their turmeric trades accordingly," he said.
S Periyasamy, President of Lower Bhavani Ayacut Land Owners Association, said, "We expect the demand to likely increase as the festive season continues. In addition, yields in Maharashtra, Andhra Pradesh and Karnataka have been affected due to rains. Erode has a large influx of turmeric from these states. Also, due to continuous rains in Erode, disease outbreaks have started emerging in some areas. Too much humidity makes it difficult to preserve turmeric. These are likely to lead to price hikes."
