Clove Prices Show Firm Sentiment Across Key Markets

Mumbai, May 9 (CommoditiesControl): Clove prices are experiencing a firm sentiment, with notable price increases observed in various markets.

In Kottayam, imported clove prices saw an uptick of Rs 10 per kilogram across different origins. Prices ranged from Rs. 850 to Rs. 870 per kilogram for Comoros, Rs. 860 to Rs. 880 for Madagascar, and Rs. 860 to Rs. 880 for Sri Lankan origin. Domestic clove prices in Kottayam also rose by Rs 20 per kilogram compared to the previous session, ranging from Rs. 920 to Rs. 940 per kilogram.

This upward movement in prices is attributed to robust demand in the market. Despite the sharp price hikes seen in other spices like pepper and cardamom, clove prices are expected to remain stable. However, the significant increase in imports may limit aggressive price surges.

In Shimoga, prices surged by Rs 20 per kilogram from the previous session, reaching Rs. 940 to Rs. 960 per kilogram. Additionally, clove stems maintained their previous session's price at Rs. 125 per kilogram in Kottayam.