Clove Prices Stabilize in Domestic and Import Markets

Mumbai, May 29 (Commodities Control): Clove prices have stabilized in the Kottayam market after experiencing a rise the previous week. Imported clove prices from various origins have remained steady, with Comoros cloves priced between Rs 880 and 900 per kilogram, Madagascar cloves ranging from Rs 900 to 920 per kilogram, and Sri Lankan cloves from Rs 890 to 910 per kilogram.

Domestic clove prices in Kottayam have shown stability over the last four to five sessions, maintaining a range of Rs 1,000 to 1,020 per kilogram. In Shimoga, clove prices have seen a slight increase, with current rates between Rs 1,020 and Rs 1,040 per kilogram, reflecting a Rs 20 rise from the previous session. Meanwhile, clove stems in Kottayam continue to hold steady at Rs 130 per kilogram, unchanged from previous sessions.

The stabilization of clove prices follows a period of volatility, providing a sense of relief to traders and stockists who have been navigating fluctuating markets. The consistency in prices across different origins and domestic markets indicates a balanced supply-demand scenario for now.