Price fall of turmeric forces farmers from selling the spice

Though the prices stood at Rs 13,500-13,700 per quintal till a few days back, the highest in the history of turmeric market, it went down to Rs 11,000-11,200 since Monday and only 156 bags were sold on that day.

Chinnasamy, a turmeric farmer, said farmers would stock the spice till the prices touched at Rs 13,000 per quintal. Turmeric market sources said 'due to online trading in North, the prices went up. But now the online trading of turmeric was stopped and the prices went down automatically'.

Due to attractive prices offered to them earlier this year, several farmers in Erode and other districts have started raising turmeric and the new crop would arrive the market in January or February next year. 'The prices is expected to fall further due to heavy arrival and low demand", the sources said.

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