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Clove Prices Stable in Key Markets

22 May 2024 8:44 pm
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Mumbai, May 22 (Commodities Control): Clove prices have remained stable in both domestic and import markets. In Kottayam, imported cloves are priced between Rs. 850 and Rs. 870 per kilogram for cloves from the Comoros, Rs. 860 to Rs. 880 for those from Madagascar, and Rs. 860 to Rs. 880 for those from Sri Lanka. Domestic clove prices in Kottayam also remained steady, ranging from Rs. 920 to Rs. 940 per kilogram.

In Shimoga, clove prices are stable, ranging from Rs. 940 to Rs. 960 per kilogram, unchanged from the previous session. Clove stems in Kottayam are priced at Rs. 125 per kilogram, consistent with previous pricing.

The Department of Commerce released import data for March, showing that imports totaled 2,636 MT, an 11% decrease year-on-year. However, cumulative imports from April to March increased by 32% year-on-year, totaling 23,689 MT.

These price trends reflect a stable market for cloves, with no significant fluctuations in either domestic or international prices. This stability is occurring despite variations in import volumes, indicating steady demand and supply conditions in the market.

(By CommoditiesControl Bureau: +91-9820130172)

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