Cashless transactions push prices of turmeric to new heights
- | Saturday | 17th December, 2016
However, they didn`t agree and it encouraged black market business," Deivasigamani said, adding that cashless transactions would help them fetch good prices for their produce in the future. The demonetisation move has been a blessing for the turmeric farmers of Erode district as the prices of good quality produce has touched 9,400 a quintal from 7,500 to 8,500 three months ago. "We had urged the traders to make payments through cheques or online money transfers. Pointing out that cashless transactions have forced traders to buy the produce from them at `mandis`, farmers said this has helped the prices to go up.However, there was a brief spell of gloom as the famous turmeric mandi in Erode district remained closed for 13 days since November 9 due to demonetisation. It was reopened on November 21 and since then the prices have been going up, riding the wave of "cashless transactions".When the Erode turmeric mandi was reopened on November 21, for the first time in 64 years, the traders decided to make their payments in cheques, instead of cash.Talking to TOI, the national president of Turmeric Farmers Association of India, P K Deivasigamani, said the move would help the turmeric farmers clock good profit.
ERODE: The demonetisation move has been a blessing for the turmeric farmers of Erode district as the prices of good quality produce has touched 9,400 a quintal from 7,500 to 8,500 three months ago. Pointing out that cashless transactions have forced traders to buy the produce from them at `mandis`, farmers said this has helped the prices to go up.However, there was a brief spell of gloom as the famous turmeric mandi in Erode district remained closed for 13 days since November 9 due to demonetisation. It was reopened on November 21 and since then the prices have been going up, riding the wave of "cashless transactions".When the Erode turmeric mandi was reopened on November 21, for the first time in 64 years, the traders decided to make their payments in cheques, instead of cash.Talking to TOI, the national president of Turmeric Farmers Association of India, P K Deivasigamani, said the move would help the turmeric farmers clock good profit."We had urged the traders to make payments through cheques or online money transfers. However, they didn`t agree and it encouraged black market business," Deivasigamani said, adding that cashless transactions would help them fetch good prices for their produce in the future.
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