Mumbai, March 6 (CommoditiesControl): Clove prices in Kottayam are reportedly stable, with variations across different origins. Prices for Comoros cloves are in the range of Rs. 860 to Rs. 870 per kilogram, Madagascar cloves are priced between Rs. 860 and Rs. 880, and Sri Lankan cloves are available in the range of Rs. 890 to Rs. 920 per kilogram.
After experiencing a decline in the previous week, domestic clove prices in Kottayam are anticipated to remain stable at Rs. 950 to Rs. 980 per kilogram. The stabilization follows a period of relative price stability and is influenced by factors such as increased imports and decreased exports, contributing to higher supply levels in the domestic market.
The domestic clove prices have faced downward pressure due to a surge in imports, leading to an excess supply scenario. Prices in Shimoga are reported to be steady, ranging between Rs. 1,000 and Rs. 1,020 per kilogram, aligning with the previous session. Additionally, clove stems are priced at Rs. 160 per kilogram in Kottayam, consistent with the previous session.
The stability in clove prices in Kottayam reflects the current market adjustments in response to the changing supply dynamics. Import pressures and a decrease in exports have impacted the domestic market, leading to adjustments in prices.
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(By CommoditiesControl Bureau; +91-9820130172)
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