Mumbai, May 20 (Commodities Control): Clove prices have remained stable in the major markets, particularly in Kottayam, due to increased supply that has helped keep prices in check. Despite the steady supply, strong demand continues to support the current price levels.
In the Kottayam market, prices for imported cloves have been consistent, with Comoros origin cloves priced between Rs 850 and Rs 870 per kilogram. Madagascar and Sri Lankan cloves are slightly higher, ranging from Rs 860 to Rs 880 per kilogram. Domestic clove prices in Kottayam are stable as well, ranging from Rs 920 to Rs 940 per kilogram.
The stability in clove prices is underpinned by robust demand. Market insiders suggest that the expected significant price increases in other spices, such as cardamom and pepper, are contributing to the stability in clove prices. This strong demand is likely to keep clove prices from falling, even as the market experiences a rise in imports.
In Shimoga, clove prices also remain unchanged from the previous session, ranging between Rs 940 and Rs 960 per kilogram. Clove stems in Kottayam are priced at Rs 125 per kilogram, consistent with the previous session.
While there is a sharp increase in the supply of imported cloves, it is not expected to drastically alter the price landscape due to the balanced demand and import dynamics.
Overall, the clove market is experiencing stable prices amidst increased supply and sustained strong demand. Both domestic and imported clove prices are holding steady, reflecting a balanced market condition supported by demand for other spices and the current import levels.
(By CommoditiesControl Bureau: +91-9820130172)
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