New Delhi, December 09 (CommoditiesControl): Clove prices remained stable for the fifth consecutive session, with adequate supply to meet current domestic demand. However, market sources suggest a decrease in imports due to domestic material shortages, and a significant reduction in supply is expected this season, which could drive prices up in the coming weeks.
In Shimoga, bilty prices for cloves were quoted at Rs 950 per kilogram, while Kottayam reported a range of Rs 920 to Rs 940 per kilogram, both largely unchanged from the previous session. Clove stems in Kottayam were priced at Rs 145 per kilogram, consistent with the last session's rates.
Internationally, prices from Madagascar and Indonesia remained stable, with quotes ranging from $8,400 to $8,500 per MT from Madagascar and $7,200 to $7,300 per MT from Indonesia. Trading in Madagascar is reported to be slow as farmers focus on harvesting Litchi, while Indonesia is facing extremely limited supply. As the Christmas and New Year holiday season approaches, trading activity is expected to pick up next week, potentially tightening supply further.
Expectations are that Lalpari clove will cost between Rs 840 to Rs 860 per kg, with prices in other key regions as follows: Comoros at Rs 780 to Rs 800 per kg, Madagascar at Rs 820 to Rs 840 per kg, and Sri Lanka at Rs 780 to Rs 800 per kg.
With supply constraints likely to intensify and the festive season boosting demand, prices are expected to remain within the current range, with a potential upward trend in the near future.
(CommoditiesControl Bureau; +91-9820130172)
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