Mumbai, October 07 (CommoditiesControl): Clove prices across major markets have remained stable for the second consecutive session, following a weaker trading phase. However, prices have seen a notable decline of Rs 120-140 per kg since reaching recent peaks, largely due to the commencement of harvesting in key producing regions.
As harvesting begins in Zanzibar and Madagascar, lower prices from these origins have impacted the market. In Madagascar, the clove harvest is underway, but expectations for a shorter season due to decreased output are contributing to current pricing pressures. The moisture content at the farm gate is reported to be high, at 20-25%, although the quality of dried cloves is excellent. This increased moisture is leading to lower prices, creating favorable buying opportunities.
In Kottayam, bilty prices range from Rs 900 to Rs 910 per kilogram, while in Shimoga, prices are slightly higher, between Rs 920 and Rs 930 per kilogram. The price of clove stems in Kottayam remains unchanged at Rs 137 per kilogram.
Prices for cloves from various origins have stabilized after a downturn last week. Currently, lalpari prices vary between Rs 780 and Rs 800 per kilogram. Cloves from Comoros are priced around Rs 800-820, while those from Madagascar are at Rs 840-850. Sri Lankan cloves are trading at Rs 820-840 per kilogram.
Market analysts anticipate that prices will remain stable in the coming days, as they have already decreased by Rs 100-120 per kg from their peaks. Additionally, lower import levels in July are expected to support price stability in the near term.
(By CommoditiesControl Bureau; +91-9820130172)
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