Clove Prices Steady as Domestic Harvest Gains Momentum, Imports Surge in November

Mumbai, 24 Jan (Commoditiescontrol): Clove prices in India remained stable over the past month, supported by steady domestic arrivals and consistent imported material. Domestic crop harvesting has commenced, boosting supply in key agricultural markets and maintaining price stability.

In Shimoga, domestic clove prices stood at ₹940 per kilogram, while in Kottayam, prices ranged between ₹910 and ₹930 per kilogram, unchanged from the previous month. Clove stems in Kottayam were priced at ₹138 per kilogram.

### Imported Clove Prices Hold Steady

Global prices from key origins, Madagascar and Indonesia, remained consistent due to limited material availability. Madagascar cloves were quoted at $8,200–8,300 per metric ton (MT), while Indonesian cloves were priced between $7,300 and $7,500 per MT.

In Kerala’s major markets, imported clove prices, including GST, showed no change:

- Lalpari: ₹790–800 per kilogram
- Comoros: ₹730–750 per kilogram
- Madagascar: ₹760–780 per kilogram
- Sri Lanka: ₹740–760 per kilogram

### November Imports Surge

EXIM data for November revealed exponential growth in clove imports, with volumes reaching 3,122 tons—a 293% year-on-year increase and a 46% rise month-on-month. Indonesia accounted for 68% of the imports, while supplies from Comoros and Madagascar also posted significant year-on-year growth. However, limited availability continues to restrict imports from Africa.

### Market Outlook

The combination of ample imported stock and increasing arrivals from the new domestic crop is expected to sustain price stability in the near term.


(By Commoditiescontrol Bureau: 09820130172)