MADAGASCAR’S cloves prices have moved sharply higher in recent weeks despite the arrival of a decent sized crop, due to local speculation and hoarding of stocks. Trade estimates have pegged this year’s Madagascan crop at between 8,000 and 10,000 tonnes compared with only 3,000 to 4,000 tonnes in 2009…READ MORE
Madagascar is sold out of 2009 crop produce ahead of the start of this year’s crop in October. First shipments should be under way at the end of October or beginning of November…READ MORE
New crop Madagascar cloves prices would start low as demand was ongoing and all exporters at the origin were aware of the current situation. “Only freight rates could help making slightly better prices from Madagascar…READ MORE
INTERNATIONAL cloves dealers are likely to be closely monitoring developments in Madagascar over the coming weeks following a warning from the UN Food and Agriculture Organisation that the country’s crops are at risk of a significant plague of locusts. The FAO has called for action before the rainy season exacerbates the problem…READ MORE
CLOVE leaf oil from Madagascar is becoming dangerously short and traders are beginning to fear that supplies may yet run out altogether, pushing prices to well above the 20-year highs they are currently scaling. Madagascar’s cloves prices started climbing in June when it became increasingly difficult to obtain any good quality produce from the 2009 […]