Mumbai, December 10 (CommoditiesControl): Clove prices have remained stable over the past week as domestic supply continues to meet demand. However, a decline in imports due to material shortages and an anticipated drop in this season's supply may drive prices higher in the near term.
In key domestic markets, Shimoga reported bilty prices at ₹950 per kilogram, while Kottayam's prices ranged from ₹920 to ₹940 per kilogram, both unchanged from the previous week. Clove stems in Kottayam remained steady at ₹145 per kilogram.
Globally, quotes from Madagascar and Indonesia held firm, with Madagascar cloves priced between $8,400 and $8,500 per MT and Indonesian cloves ranging from $7,200 to $7,300 per MT. Limited trading activity in Madagascar, where farmers are focused on litchi harvesting, and restricted supplies in Indonesia have kept the market subdued.
With the Christmas and New Year seasons approaching, trading activity is expected to pick up starting next week. Lalpari cloves are projected to range between ₹840 and ₹860 per kilogram. Comoros cloves are priced between ₹780 and ₹800 per kilogram, while Madagascar and Sri Lankan origins are quoted at ₹820–₹840 and ₹780–₹800 per kilogram, respectively.
Market experts anticipate prices to remain within these broad ranges but trend upward in the coming days as supply constraints persist.
(CommoditiesControl Bureau; +91-9820130172)
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