New Delhi, April 01 (Commodities Control): Clove prices witnessed a decline, primarily influenced by robust imports, which have exerted pressure on domestic market prices. In Kottayam, prices ranged between Rs. 840 and Rs. 860 per kilogram for Comoro origin, Rs. 850 to Rs. 870 for Madagascar, and Rs. 850 to Rs. 880 for Sri Lankan origin. Notably, domestic clove prices in Kottayam experienced a decrease of Rs. 20-30 per kg, dropping from Rs. 880 to Rs. 900 per kg. The surge in supply attributed to increased imports coupled with reduced exports has contributed to the downward pressure on prices.
Similarly, in Shimoga, prices per kilogram ranged between Rs. 900 and Rs. 920, marking a decline of Rs. 20-30 per kg from the previous session. Additionally, clove stems were priced at Rs. 125 per kilogram in Kottayam, representing a Rs. 5 decrease compared to the previous session.
In parallel, the Ministry of Commerce released import figures for January, revealing a notable 23% increase with imports totaling 2,095 MT for the month. Between April and January, imports amounted to 17,527 MT, reflecting a substantial 38% increase year-on-year. This surge in monthly imports can be attributed to heightened imports from Madagascar, which saw a remarkable 374% increase compared to the previous year.
(CommoditiesControl Bureau; +91-9820130172)
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