Mumbai, August 06 (CommoditiesControl): Clove prices in domestic markets have stabilized after experiencing a decline over the past two sessions. In the Kottayam markets, domestic cloves are selling between Rs 980 and Rs 1,000 per kilogram. As harvesting begins in the primary producing regions, prices are under pressure. Additionally, stockists are reducing their inventories in anticipation of the arrival of new crops, further contributing to the price pressure.
In local markets, Lalpari is priced around Rs 800-820 per kg. Cloves from the Comoros range between Rs 840 and Rs 860 per kg, Madagascar varieties are priced at Rs 880-900 per kg, and Sri Lankan cloves range from Rs 850 to Rs 880 per kg.
As the harvest season commences in the main producing regions, clove prices are expected to decline. The domestic market is also oversupplied due to a significant increase in imports over the past six months, which is likely to cap future price increases.
(By CommoditiesControl Bureau: +91-9820130172)
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