Mumbai, November 4 (Commodities Control): Clove prices across major markets have remained stable for the fourth straight session, with local traders reporting a balanced supply due to favorable import volumes. Although Indian buyers are offering higher rates, the absence of sellers from Madagascar indicates that further price drops are unlikely in both domestic and international markets.
Global price reductions for cloves appear unlikely as African nations project lower production levels. Madagascar clove is priced around $8,000 per metric ton, while Indonesian clove costs about $7,100 per metric ton. These rates have remained consistent over the past week.
In domestic markets, bilty prices in Kottayam range from ₹880 to ₹890 per kilogram, while Shimoga's prices are between ₹910 per kilogram. The price of clove stem in Kottayam remains unchanged at ₹140 per kilogram.
The estimated bill price for Lalpari cloves is between ₹770 and ₹780 per kilogram. Prices for Comoros clove range from ₹770 to ₹800 per kilogram, with Madagascar and Sri Lankan clove priced between ₹780 and ₹800 per kilogram.
Experts expect clove prices to remain stable in the coming days, supported by ongoing harvesting activities that will sustain supply. Reduced global production forecasts should also contribute to price stability in the near term.
(By CommoditiesControl Bureau; +91-9820130172)
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