In the vibrant trading hub of Erode, where the golden spice rules the roost, turmeric’s arrival has taken a nosedive. As farmers timidly withhold their harvest, the wholesale prices of this cherished culinary gem have also plummeted. Whispers from the business realm echo these murmurs, revealing a summer-induced stir in the market.
Its arrivals in the Erode shop have shrunk, diminishing to a mere 5400 bags—a quick drop from the previous day’s 5700 bags and the grand spectacle of 7100 bags witnessed during the weekend. Farmers, shrewdly foreseeing a brighter future, cautiously limit their sales, anticipating the allure of higher prices. As the heatwave engulfs the lands of North and Central India, a domino effect befalls turmeric and its companions in the grocery realm. Exporters and stockists, once avid buyers, now tread cautiously, casting a shadow of reluctance over the trading floor. The scorching temperatures have cast their spell on the market, causing a bearish trend that has persisted since the second half of the previous week.
In this perplexing panorama, the price charts paint a gloomy picture. The fabled Erode Gatta edge brick, so revered in its glory days, now falters further, stumbling by $1,21 to settle at $ 0,96/$0,98 per kg. This wave of bearishness has persisted since the weekend, which witnessed a steep decline. Experts gaze into the crystal ball, apprehending that the delicate turmeric prices will remain ensnared by the brewing heat, causing the imminent pressure to weigh heavily upon the significant consumer regions of central and north India.