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Clove Prices Remain Steady in South Indian Markets

28 Nov 2023 8:35 pm
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Mumbai, November 28 (CommoditiesControl): The cost of domestic cloves has shown steady trend in recent times, with prices holding steady in key markets.

In Kottayam, Comoros cloves are priced between Rs. 870 and Rs. 880 per kilogram, Madagascar cloves range from Rs. 880 to Rs. 900, and Sri Lankan cloves are valued between Rs. 890 and Rs. 910.

Notably, the price of locally produced cloves in Kottayam remains consistent, fluctuating between Rs. 1,030 and Rs. 1,050 per kilogram, maintaining the same levels as the previous session.

Similarly, in Shimoga, prices hover between Rs. 1,020 and Rs. 1,040 per kilogram. Clove stems, too, maintain their cost at Rs. 185 per kilogram in Kottayam, matching the rates from the preceding session.

The stability in clove prices extends beyond regional boundaries, encompassing major markets in Kerala and Tamil Nadu for both domestically cultivated and imported cloves. This steady pricing trend witnessed for the past three months. A key factor contributing to this stability is the reduced production in leading clove-producing countries like Indonesia, both in domestic and international markets.

Looking ahead, market observers anticipate a notable decrease in production during the 2024 season, primarily attributed to weather conditons affecting major producing countries. These anomalies are expected to impact standing crops, thereby sustaining current price levels in both domestic and global markets.





(By CommoditiesControl Bureau; +91-9820130172)

       
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