Mumbai, March 27 (Commodities Control): Clove prices continue to exhibit weakness in the market, while import activities maintain a robust momentum, according to recent reports.
In Kottayam, prices for cloves vary, with Comoro cloves ranging between Rs. 840 and Rs. 860 per kilogram, Madagascar cloves priced at Rs. 850 to Rs. 870 per kilogram, and Sri Lankan origin cloves priced between Rs. 850 and Rs. 880 per kilogram. Notably, domestic clove prices in Kottayam are reported to be Rs. 30-40 lower per kilogram, ranging from Rs. 920 to Rs. 950 per kilogram. This downward pressure on domestic prices is attributed to increased imports and reduced exports, leading to a surplus in the domestic market.
Similarly, in Shimoga, clove prices per kilogram are reported between Rs. 950 and Rs. 980, marking a decrease of Rs. 20-30 per kilogram compared to the previous session. Additionally, clove stems in Kottayam are priced at Rs. 135 per kilogram, reflecting a decline of Rs. 15 per kilogram from the previous session.
Meanwhile, the Ministry of Commerce released import data for January, revealing a notable surge in import volumes. Total imports for the month amounted to 2,095 metric tons, indicating a significant 23% increase. Import figures for the period from April to January also demonstrated a substantial year-on-year growth, totaling 17,527 metric tons, reflecting a 38% increase. The surge in monthly imports can be primarily attributed to a notable increase in imports from Madagascar, which reported a staggering 374% year-on-year growth.
(CommoditiesControl Bureau; +91-9820130172)
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