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Clove Prices Likely to Remain Stable Amid Rising Arrivals and Steady Imports

17 Jan 2025 10:41 pm
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Mumbai, January 17 (CommoditiesControl): Clove prices are expected to remain constant in the near term, as both domestic and imported clove prices have stayed stable. Domestic clove prices have remained unchanged for the past month, while imported clove prices have been flat for the last 8-10 sessions. With the commencement of the domestic crop harvest, arrivals are increasing in the primary growing areas, helping to keep prices under control.

In key domestic markets, prices are steady, with Shimoga reporting clove prices at Rs 940 per kilogram, while Kottayam saw prices ranging between Rs 910 and Rs 930 per kilogram, similar to the previous month. A kilogram of clove stem in Kottayam is priced at Rs 138.

Internationally, quotes from Madagascar and Indonesia have remained stable due to limited material availability. Prices from Madagascar are ranging between $8,200–8,300 per MT, while Indonesian cloves are priced between $7,300–7,500 per MT.

In Kerala's major marketplaces, Lalpari cloves are being quoted at Rs 790–800 per kilogram. Cloves from the Comoros are priced between Rs 730 and Rs 750 per kilogram, Madagascar cloves range from Rs 760 to Rs 780, and Sri Lankan cloves are priced between Rs 740 and Rs 760 per kilogram. These prices have remained unchanged from the previous day.

With the substantial supply of imported cloves and the rise in domestic crop arrivals, prices are expected to remain stable, with limited upward movement in the coming days.

(By CommoditiesControl Bureau; +91-9820130172)


       
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