Turmeric price in Erode spikes by ₹2,000 a quintal in two weeks

Fresh turmeric arrival in Erode markets drives price increase by ₹2,000 a quintal, reaching high of ₹21,369.

With fresh turmeric continuing to arrive at markets in Erode, the price of turmeric has increased by ₹2,000 a quintal in the past two weeks.

Turmeric harvested in Erode, Salem, Dharmapuri, Karnataka and Andhra Pradesh is being brought to the four markets, the Agricultural Producers Cooperative Marketing Society Limited, in Gobichettipalayam and Karungalpalayam in Erode and at regulated markets in Perundurai as well as the the Turmeric Market Complex, owned by the Erode Turmeric Merchants and Godown Owners’ Association, for auctioning every day.

In February, the price had hovered between ₹9,000 and ₹14,000 a quintal, and after the arrival of fresh turmeric, had prices had increased, touching a high of ₹21,369 a quintal on March 13. Later, price started to drop and it traded between ₹16,000 a quintal and ₹17,000 a quintal in April.

“After the Lok Sabha polls, the price of turmeric increased by ₹2,000 a quintal,” said a trader who added that the arrival of fresh turmeric is continuing in the market.

On Friday, May 2, 2024, at the Erode Regulated Market, the fresh finger variety was auctioned between ₹11,559 and ₹18,689 a quintal, while the bulb variety was auctioned between ₹10,009 and ₹17,227 a quintal.