Clove Prices Stable Amid Increased Imports and Favorable Weather Conditions

Mumbai, June 28 (CommoditiesControl): Clove prices in the Kottayam market have remained stable over the past 10-12 sessions, with prices ranging from Rs 890-920 per kilogram for Comoros origin, Rs 910-930 for Madagascar origin, and Rs 900-930 for Sri Lankan origin. Domestic clove prices in Kottayam have been reported at Rs 1,020 to Rs 1,040 per kilogram.

Weather conditions in the major clove-growing regions of Kerala and Tamil Nadu have been favorable, with ample rainfall this week expected to benefit crop development.

According to the latest April EXIM data, clove imports have increased by 26% year on year, totaling 3,984 metric tons (MT). This rise in imports is contributing to the stability of clove prices by meeting domestic demand.

In Shimoga, clove prices have also remained unchanged since the previous session, ranging from Rs 1,040 to Rs 1,060 per kilogram. Meanwhile, the price of clove stems in Kottayam has held steady at Rs 130 per kilogram.

Overall, the stable prices in both Kottayam and Shimoga, along with the increase in imports and favorable weather, indicate a balanced market for cloves.

(By CommoditiesControl Bureau: +91-9820130172)