Mumbai, May 15 (Commodities Control): Clove prices maintained stability in the key markets. Reports from the Kottayam market reveal stability in imported and domestic clove prices, supported by robust demand and a balanced market landscape.
In the Kottayam market, imported clove prices exhibit stability, with Comoros cloves ranging between Rs. 850 and Rs. 870 per kilogram, Madagascar cloves commanding prices between Rs. 860 and Rs. 880 per kilogram, and Sri Lankan cloves mirroring the same range. Meanwhile, domestic clove prices in Kottayam remain steady, fluctuating between Rs. 920 and Rs. 940 per kilogram.
The stability in prices is underpinned by sustained demand, with other spices like pepper and cardamom also poised for notable price increases, thereby contributing to overall price stability in the market. However, the potential for aggressive price hikes is tempered by expectations of increased imports, which could offset any significant surges in prices.
In Shimoga, another significant trading hub, clove prices stand firm at Rs. 940 to Rs. 960 per kilogram, echoing the stability observed in the previous session. Additionally, the price of clove stems in Kottayam remains unchanged at Rs. 125 per kilogram, aligning with market expectations and reinforcing the prevailing stability in the clove market.
(By CommoditiesControl Bureau: +91-9820130172)
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