Mumbai, September 9 (CommoditiesControl): Clove prices have remained stable following a period of weak trading. In Kottayam, bilty prices are holding steady between Rs 970 and Rs 980 per kilogram, while in Shimoga, prices range from Rs 980 to Rs 1000 per kilogram. The price for clove stems is reported at Rs 140 per kilogram in Kottayam. Local traders indicate that the market is well-supplied, and the commencement of harvesting in key importing countries is exerting downward pressure on prices.
For various clove grades, current prices are as follows:
- Lalpari: Rs 800-820 per kilogram
- Comoros Origin: Rs 840-860 per kilogram
- Madagascar Origin: Rs 880-900 per kilogram
- Sri Lankan Origin: Rs 850-880 per kilogram
Prices are expected to remain low throughout the harvest seasons of major producing regions. The last six months have seen a significant increase in imports, contributing to the surplus inventory in domestic markets, which helps to stabilize prices.
Harvesting has peaked in Indonesia, with the Comoros expected to begin next month. Despite a general forecast of low crop production globally, particularly outside Madagascar, this is unlikely to lead to a sharp drop in global prices due to the surplus inventory and increased imports.
(By CommoditiesControl Bureau; +91-9820130172)
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