Turmeric price slashes again

Turmeric traders said that the price of old and fresh turmeric in Erode region has not increased because quality turmeric is sold at a low price in Maharashtra. Turmeric auctions are held at 4 places in Erode from Monday to Friday. In the last week, the price of turmeric rose to Rs.8,500. 

Now the price has come down again. Turmeric Traders and Warehouse Owners Association Secretary Sathyamurthy said: Turmeric prices had shot up to Rs 8,500 a quintal a few days ago.  Now the price has come down to Rs.7,500. The main reason for that is the low supply of fresh turmeric. Most of the old turmeric comes after harvesting. They are of slightly lower quality so the price has come down again. In Nizamabad market of Telangana, the supply of turmeric has decreased and the price has also decreased. 

But in Maharashtra, the yield of turmeric is high and the price is low for fresh turmeric. So the traders here also buy turmeric there. Due to such reasons the price of turmeric in Erode market has not increased.  The price continues at Rs.7,500 per quintal. Many farmers who have harvested fresh turmeric and traders who have bought it are waiting to sell if the price is good. Due to this, the stock of fresh turmeric is increasing again, he said.