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New Delhi, August 8 (Commoditiescontrol): Clove prices have remained consistent in domestic markets, with values reported to be stable across various regions. In Kottayam, domestic billy cloves are trading within a range of Rs 980 to Rs 1,000 per kilogram. The market is currently oversupplied, largely due to a significant increase in imports since the beginning of the year, putting downward pressure on prices.
In local markets, Lalpari cloves are priced between Rs 800 and Rs 820 per kilogram. Cloves of Comoros origin are trading at Rs 840 to Rs 860 per kilogram, Madagascar origin at Rs 880 to Rs 900 per kilogram, and Sri Lankan origin at Rs 850 to Rs 880 per kilogram.
As the primary producing regions begin their harvest season, prices are expected to face further pressure. The domestic market's oversupply, driven by a substantial rise in imports over the past six months, is likely to limit any significant price increases in the near future.
With the market flooded with supply and the harvest season underway, clove prices are anticipated to trend downward, making it a challenging period for price stability.
(By Commoditiescontrol Bureau: +91-22-40015505)
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