Mumbai, May 13 (Commodities Control): Clove prices maintained stability in the current market scenario, with both imported and domestic varieties showing consistent pricing trends.
In the Kottayam market, imported clove prices remained steady, with Comoros-origin cloves priced between Rs. 850 and Rs. 870 per kilogram, Madagascar-origin cloves ranging from Rs. 860 to Rs. 880 per kilogram, and Sri Lankan-origin cloves also in the range of Rs. 860 to Rs. 880 per kilogram. Similarly, domestic clove prices in Kottayam were reported stable, spanning from Rs. 920 to Rs. 940 per kilogram.
The stability in prices is attributed to robust demand in the market, which has acted as a key support factor. Additionally, expectations of significant price increases in other spices such as pepper and cardamom contribute to maintaining stability in clove prices. However, the potential for aggressive price hikes is expected to be limited by significant increases in imports.
In Shimoga, prices remained unchanged from the previous session, with clove prices ranging between Rs. 940 and Rs. 960 per kilogram. Moreover, clove stems maintained their previous price level of Rs. 125 per kilogram in Kottayam.
Overall, the prevailing stability in clove prices amidst strong demand signals a balanced market scenario.
(By Commoditiescontrol Bureau: +91 9820130172)
(By CommoditiesControl Bureau: +91-9820130172)
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