Hoarding outweighs good crop arrivals to push up clove prices
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