Mumbai, May 14 (Commodities Control): Clove prices have remained stable in recent trading sessions, buoyed by sustained demand in the market.
In the Kottayam market, imported clove prices have held steady, with Comoros clove prices ranging between Rs. 850 and Rs. 870 per kilogram, Madagascar clove prices between Rs. 860 and Rs. 880, and Sri Lankan clove prices also within the range of Rs. 860 to Rs. 880 per kilogram. Similarly, domestic clove prices in Kottayam have shown stability, varying between Rs. 920 and Rs. 940 per kilogram.
The stability in prices is attributed to robust demand in the market. Furthermore, the expected significant price increases in other spices like pepper and cardamom are contributing to maintaining stability in clove prices. However, it's noted that aggressive price hikes may be tempered by significant increases in imports.
In Shimoga, prices have also remained stable, with clove prices per kilogram ranging from Rs. 940 to Rs. 960 in the previous session. Additionally, clove stems were priced at Rs. 125 per kilogram in Kottayam, mirroring the prices from the previous session.
With demand remaining strong and prices holding steady across various markets, the clove market appears to be on a stable trend, supported by both domestic and international factors.
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