Mumbai, December 6 (Commodities Control): Clove prices held steady for the fifth consecutive session, supported by adequate supply meeting current domestic demand. However, market reports indicate a decrease in imports due to limited availability of materials in the domestic market. With a significant supply reduction anticipated this season, an upward trend in prices is likely in the coming weeks.
In Shimoga, bilty prices were reported at ₹950 per kilogram, while Kottayam quoted prices ranging from ₹920 to ₹940 per kilogram, unchanged from the previous session. Clove stem prices in Kottayam also remained stable at ₹145 per kilogram.
Quotes for cloves from Madagascar and Indonesia were stable at $8,400–8,500/MT and $7,200–7,300/MT, respectively. Trading activity in Madagascar remains sluggish as farmers are focused on harvesting litchi, while supply in Indonesia continues to be extremely limited. However, as the Christmas and New Year season approaches, trading activity is expected to pick up in the coming week.
Price Forecasts
- Lalpari: Expected to range between ₹840 and ₹860 per kilogram.
- Clove Prices:
- Comoros: ₹780–₹800 per kilogram |
- Madagascar: ₹820–₹840 per kilogram
- Sri Lanka: ₹780–₹800 per kilogram
While current prices are stable, the anticipated reduction in supply suggests that prices may see an upward bias in the near term. Domestic and global market activity in the festive season will be key determinants of price movement
(CommoditiesControl Bureau; +91-9820130172)
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