Mumbai, March 26 (Commodities Control): Clove prices have maintained stability amidst evolving supply trends. In the major clove markets of Kottayam and Shimoga, prices have largely remained unchanged, reflecting a balanced market sentiment.
In Kottayam, prices for clove varieties from different origins have shown consistency. Comoro cloves are quoted at Rs. 860 to Rs. 870 per kilogram, Madagascar at Rs. 860 to Rs. 880 per kilogram, and Sri Lankan origin cloves ranging between Rs. 890 to Rs. 920 per kilogram. Meanwhile, domestic clove prices in Kottayam are reported to be steady, ranging from Rs. 950 to Rs. 980 per kilogram.
However, market observers note that the stable prices in the domestic market are influenced by increased imports and decreased exports, resulting in higher supply. This surplus in supply is exerting pressure on domestic market prices, despite the overall stability observed.
In Shimoga, clove prices also maintain their previous levels, with prices per kilogram ranging between Rs. 1,000 and Rs. 1,020, reflecting no significant change from the preceding session. Additionally, the price of clove stems in Kottayam remains unchanged at Rs. 150 per kilogram compared to the previous session.
(CommoditiesControl Bureau; +91-9820130172)
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