Drop in arrivals of fresh turmeric pushes price to ₹19,509 a quintal at Erode market

Fresh turmeric prices surge in Erode market due to drought, low arrivals, and uncertainty, reaching ₹19,509 a quintal.

A drop in the arrival of fresh turmeric and uncertainty over cultivable areas in the coming season due to the prevailing drought has pushed the price of fresh turmeric to ₹19,509 a quintal at the Erode market, as on Monday, March 11, 2024. This is an increase of ₹1,810 a quintal when compared to the auction price of ₹17,699 at the market on March 9.

At the Erode Society, the fresh finger variety was auctioned between ₹15,569 a quintal, and ₹19,509 a quintal, while the bulb variety was auctioned between ₹14,599 a quintal, and ₹17,089 a quintal.

The Erode Regulated Market, functioning at the Turmeric Market Complex and owned by the Erode Turmeric Merchants and Godown Owners’ Association (Erode Manjal Vanigarkal Matrum Kidangu Urimaiyalargal Sangam), is the second-biggest market in the country, after the one in Nizamabad in Telangana.

The fresh finger variety was auctioned between ₹13,869 a quintal, and ₹19,100 a quintal, while the bulb variety was auctioned at between ₹12,699 a quintal, and ₹16,750 a quintal. The old finger variety was auctioned between ₹11,000 a quintal, and ₹16,245 a quintal, while the bulb variety was auctioned between ₹10,559 a quintal, and ₹15,169 a quintal..

M. Sathyamurthy, secretary of the association told The Hindu that the arrival of fresh turmeric is in much lower quantities than anticipated, pushing the price up. “Also, fresh turmeric is arriving only from Dharmapuri and Karnataka and from a few areas in Erode district. Water storage in dams is very low as uncertainty prevails among farmers over cultivating turmeric in the coming season,” he added.

The Marathwada region in Maharashtra has the single largest production area in the country, contributing over 50% of the country’s turmeric. “Due to the delay in harvesting, fresh turmeric has just started to arrive from the Marathwada region,” Mr. Sathyamurthy said, and added that only the Erode and Nizamabad markets are receiving fresh turmeric. 

While exports remain normal, domestic needs are being fulfilled by farmers who have sold all their stock over the past two months. “Cultivation areas across the country have dropped by over 30% and the price may go up further,” he added.