Mumbai, March 13 (CommoditiesControl): Clove prices maintained stability across major markets, providing a sense of relief for traders and consumers alike. In Kottayam, prices ranged from Rs. 860 to Rs. 870 per kilogram, while in Comoros and Madagascar, prices quoted between Rs. 860 to Rs. 880 per kilogram. Sri Lanka records slightly higher prices, ranging from Rs. 890 to Rs. 920 per kilogram.
After experiencing a decline in the previous week, domestic clove prices in Kottayam are anticipated to remain steady at Rs. 950 to Rs. 980 per kilogram. However, the market is under pressure due to increased imports and reduced exports, resulting in higher supply and thus exerting downward pressure on domestic prices.
In Shimoga, prices remain consistent with the previous session, ranging from Rs. 1,000 to Rs. 1,020 per kilogram. Similarly, clove stems maintain their price stability at Rs. 160 per kilogram in Kottayam, aligning with the rates observed in the previous session.
The overall stability in clove prices across these markets suggests a balanced supply-demand scenario, providing a favorable environment for market participants.
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