Mumbai, August 05 (CommoditiesControl): Clove prices in domestic markets have stabilized after a decline over the past two sessions. In Kottayam markets, domestic cloves are priced between Rs. 980 and Rs. 1,000 per kilogram. The commencement of harvesting in primary producing regions is putting pressure on prices, further compounded by stockists reducing their inventory in anticipation of the new crop arrivals.
In local markets, lalpari cloves are priced at around Rs 800-820 per kg. Cloves from Comoros range from Rs 820 to Rs 850 per kg, Madagascar cloves are priced between Rs 850 and Rs 880 per kg, and Sri Lankan cloves are also between Rs 850 and Rs 880 per kg.
A negative trading bias in clove prices is expected as the main producing regions begin their harvest. Additionally, the domestic market has been oversupplied due to a significant increase in imports over the past six months, which is likely to limit any potential price increases in the near future.
(By CommoditiesControl Bureau: +91-9820130172)
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