Mumbai, December 5 (CommoditiesControl): Clove prices held steady for the fourth consecutive session, supported by adequate domestic supply and limited trading activity. Despite stable prices, market sources highlight a decline in imports due to constrained availability in global markets. Additionally, lower seasonal supply expectations may push prices higher in the coming weeks.
In Shimoga, bilty prices were reported at ₹950 per kilogram. In Kottayam, prices ranged between ₹920 and ₹940 per kilogram, unchanged from the previous session. Clove stems in Kottayam also remained steady at ₹145 per kilogram.
Global quotes showed stability, with Madagascar prices at $8,400-8,500 per MT and Indonesian prices at $7,200-7,300 per MT. Limited supplies in Indonesia and ongoing litchi harvesting in Madagascar have kept trading volumes subdued.
Regionally, Lalpari prices are reported between ₹840 and ₹860 per kilogram, while clove prices in Comoros, Madagascar, and Sri Lanka range from ₹780 to ₹840 per kilogram.
With supply constraints and steady demand, clove prices are expected to remain within a broad range but may exhibit an upward bias in the days ahead.
(CommoditiesControl Bureau; +91-9820130172)
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