New Delhi, April 30 (Commoditiescontrol): In Kottayam, imported clove prices held steady, with Comoros cloves ranging from Rs. 840 to Rs. 860 per kilogram, Madagascar cloves from Rs. 850 to Rs. 870, and Sri Lankan cloves from Rs. 850 to Rs. 880 per kilogram.
Domestic clove prices in Kottayam remained unchanged over the last fortnight, ranging between Rs. 880 and Rs. 900 per kilogram. The surge in imports has bolstered supply, potentially exerting downward pressure on domestic market prices.
Similarly, in Shimoga, prices remained unchanged from the previous session, ranging between Rs. 900 and Rs. 920 per kilogram. Clove stems in Kottayam were priced at Rs. 125 per kilogram, matching with the previous session's rates.
Meanwhile, the Department of Commerce released updated export figures for February, revealing a notable increase in clove imports. Total imports reached 3,526 MT, marking a 52% surge driven by substantial increases in imports from Madagascar and Indonesia. From April to February, imports totaled 1,053 tons, reflecting a 40% year-on-year increase. However, exports declined by 51%. The heightened supply resulting from increased imports is anticipated to exert pressure on prices in the near future.
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