Mumbai, July 26 (CommoditiesControl): Clove prices in Kottayam have remained stable over the past one and a half months. The market's steady sentiment is attributed to increased imports over the last six months, which have ensured ample supply. The current prices are as follows:
- Sri Lankan origin: Rs 900-930 per kg
- Madagascar origin: Rs 910-930 per kg
- Comoros origin: Rs 890-920 per kg
Domestic clove prices in Kottayam are slightly higher, ranging from Rs 1,020 to Rs 1,040 per kilogram. In Shimoga, clove prices have also been stable over the last 20-22 sessions, ranging between Rs 1,040 and Rs 1,060 per kilogram. The price for a kilogram of clove stems in Kottayam has remained steady at Rs 130 throughout the month.
The stability in prices is expected to continue with a positive bias, particularly as demand is anticipated to increase around mid-August.
On the production front, Indonesia's clove output is projected to be around 85,000-90,000 tons this season, which is slightly higher than the previous season but still lower than earlier estimates. Production in other key origins, including Comoros, Madagascar, Tanzania, and Zanzibar, is also expected to be lower.
(By CommoditiesControl Bureau: +91-9820130172)
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