Mumbai, December 4 (CommoditiesControl): Clove prices remained stable for the third consecutive session across major markets, supported by adequate supply to meet domestic demand. However, a decline in imports due to limited availability in international markets and expectations of a smaller crop this season may lend upward momentum to prices in the near term.
Market Prices
- In Shimoga, bilty prices stood firm at ₹950 per kilogram.
- In Kottayam, prices ranged from ₹920 to ₹940 per kilogram for cloves, while clove stems remained steady at ₹145 per kilogram.
- Lalpari cloves were priced between ₹840 and ₹860 per kilogram.
International Market
Global clove quotes were stable:
- Madagascar: $8,400–$8,500 per metric ton
- Indonesia: $7,200–$7,300 per metric ton
Trading activity in Madagascar has slowed as farmers focus on litchi harvesting, while Indonesian stocks remain extremely limited. Clove prices in the Comoros and Sri Lanka were in the range of ₹780–₹800 per kilogram, and Madagascar prices ranged between ₹820–₹840 per kilogram.
While prices are expected to remain within a broad range, the limited international supply and lower seasonal output could drive prices higher in the coming sessions.
(CommoditiesControl Bureau; +91-9820130172)
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