Mumbai, October 03 (CommoditiesControl): Clove prices in major markets have stabilized for the fifth consecutive session, following a weak start to the previous week. However, prices have decreased by Rs 80-100 per kilogram since the beginning of September due to the onset of harvesting in key producing regions. While harvesting in Indonesia is nearing completion, it is set to begin this month in Zanzibar and Madagascar.
On the global crop front, Indonesia is expected to maintain a robust production level of approximately 140,000 tons. In contrast, Madagascar's production is likely to be impacted by adverse weather conditions such as cyclones and heavy rains, leading to lower yields than previously anticipated. Although Indonesian production remains high this season, domestic demand continues to rise, which may contribute to price stability. The commencement of harvesting in Madagascar could help maintain prices in the short term, but significant declines are not expected.
Current bilty prices are reported as follows:
- Kottayam: Rs 910 to Rs 920 per kilogram
- Shimoga: Rs 930 to Rs 940 per kilogram
Additionally, the price of clove stems in Kottayam is stable at Rs 137 per kilogram compared to the previous session.
Prices from various origins have also stabilized after experiencing declines at the start of the previous week:
- Lalpari: Rs 780 to Rs 800 per kilogram
- Comoros: Rs 800-820 per kilogram
- Madagascar: Rs 840-850 per kilogram
- Sri Lanka: Rs 820-840 per kilogram
Looking ahead, prices are expected to remain stable over the next few days, particularly after falling by Rs 100 per kilogram from recent peaks. Furthermore, lower import levels in July are anticipated to support price stability in the upcoming days.
(By CommoditiesControl Bureau; +91-9820130172)
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