After 10 years gap, the turmeric price crossed over Rs 10000 per quintal on Thursday, bringing cheer to the turmeric growers.
The turmeric market, which is held at four locations in Erode, sells turmeric came from various parts of the state and from the state of Karnataka.
Turmeric prices have been rising since last month due to increased demand and reduced supply due to corona curfew.
With the increase in domestic demand, the export of turmeric, which is a disinfectant, has also increased slightly.
Due to this, the farmers are selling the turmeric which has been in stock for the last few years.
Turmeric was being traded from Rs. 6,000 to to 10,000.
The price of fresh turmeric has continued to rise and sold above Rs 10,000.
Traders said the price of turmeric will rise further in the coming days.
M. Sathyamoorthy, Secretary, Erode Yellow Merchants and Godown Owners’ Association said:
Old turmeric prices are rising in the Erode market. After 10 years, the price of turmeric has now gone up to Rs. Over 10,000. Prices fell slightly in the market on Thursday. But prices are likely to rise in the coming days.
Turmeric are coming to the Erode market from Karnataka and Dharmapuri.Harvesting of turmeric has just begun in the Erode district.
Thus, the new turmeric will be available until next May.
The main reasons for the increase in the price of turmeric in the Erode market are the low arrival of turmeric to the Basmat and Nanded markets in Maharashtra.
It is said that there is no possibility of increasing the supply of turmeric in the state of Maharashtra.
Thus, the price of turmeric in the Erode market is unlikely to fall.
He said the area under turmeric cultivation in Erode district is likely to increase this year due to rising prices.