Mumbai, 13 December (CommoditiesControl): Clove prices have remained stable over the past week, with sufficient supply to meet domestic demand. However, market sources indicate that the decrease in imports over the last 2-3 months has helped support prices in domestic markets. With trading activity in Madagascar expected to resume next week, market participants anticipate that prices may come under check in the near term.
In India, Shimoga reported bilty prices of Rs 950 per kilogram, while Kottayam saw prices ranging from Rs 920 to Rs 940 per kilogram, which remained largely unchanged compared to the previous week. The price for clove stem in Kottayam is reported at Rs 145 per kilogram, consistent with the last session.
International prices have remained stable, with Madagascar and Indonesia quoting prices between $8,400 and $8,500 per MT, and $7,200 to $7,300 per MT, respectively. In Madagascar, trading activity has been slow due to the ongoing Litchi harvest, while supplies in Indonesia are reported to be extremely limited.
As the holiday season approaches, particularly with Christmas and New Year's, trading activity is expected to pick up, with higher demand likely to drive prices upward.
Expectations for Lalpari prices are between Rs 840 and Rs 860 per kilogram. Cloves from various origins are priced as follows:
- Comoros: Rs 780 to Rs 800 per kilogram
- Madagascar: Rs 820 to Rs 840 per kilogram
- Sri Lanka: Rs 780 to Rs 800 per kilogram
In the coming days, prices are expected to remain within the broad range but may trend upward as demand increases with the festive season.
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