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Clove Prices Remain Stable Amid Increased Domestic Harvests and Steady Imports

13 Jan 2025 10:58 pm
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Mumbai, January 13 (Commodities Control): Clove prices have remained stable over the past month, with both domestic and imported cloves showing little change in price. As the harvesting season begins in key growing areas, arrivals are increasing, ensuring that prices are likely to stay steady in the coming sessions.

In India, domestic clove prices have remained consistent. In Shimoga, the price is reported at Rs 940 per kilogram, while in Kottayam, prices range between Rs 910 and Rs 930 per kilogram, showing no significant change compared to the previous month. The price for clove stems in Kottayam is Rs 138 per kilogram.

Import prices have also held steady, with Madagascar and Indonesia offering cloves at similar rates. The price of cloves from Madagascar is quoted between $8,200 and $8,300 per metric ton, while Indonesian cloves are priced between $7,300 and $7,500 per metric ton.

In Kerala, the price of Lalpari (a specific variety of clove) in major markets is reported to be between Rs 790 and Rs 800 per kilogram, with cloves from the Comoros, Madagascar, and Sri Lanka priced between Rs 730 and Rs 780 per kilogram. These rates have remained unchanged from the previous day.

The supply of imported cloves, coupled with the commencement of new crop arrivals in domestic markets, is expected to maintain the current price levels. However, with the increasing domestic harvest and the steady influx of imports, market sources suggest that prices may face downward pressure in the near future.

As the season progresses, experts predict that prices could soften as more of the new crop enters the market and supply volumes rise. However, for the time being, clove prices appear to be on a steady trajectory, with little fluctuation observed in the short term.


(By CommoditiesControl Bureau; +91-9820130172)


       
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