New Delhi, May 16 (Commodities Control): Clove prices have remained stable, attributed to higher supply levels that are effectively balancing market dynamics. Imported clove prices in the Kottayam market have shown stability, with Comoros-origin cloves priced between Rs. 850 and Rs. 870 per kilogram, Madagascar-origin between Rs. 860 and Rs. 880, and Sri Lankan origin also in the range of Rs. 860 to Rs. 880 per kilogram. Similarly, domestic clove prices in Kottayam have held steady, ranging between Rs. 920 and Rs. 940 per kilogram.
This stability in prices is buoyed by robust demand, with the potential for significant price hikes in other spices like cardamom and pepper further supporting the current pricing trend. However, sharp increases in imports are anticipated to limit any dramatic price rises.
In Shimoga, the price per kilogram remains unchanged from the previous session, ranging between Rs. 940 and Rs. 960. Additionally, the price of clove stems per kilogram in Kottayam remains consistent with the previous session at Rs. 125.
The steady prices amidst higher supply indicate a balanced market, with demand providing crucial support to prevent any significant fluctuations.
(By CommoditiesControl Bureau: +91-9820130172)
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