INTERNATIONAL cloves prices are holding generally stable to firm despite the imminent arrival of Madagascar’s new crop. Harvesting of the crop in the south of Madagascar is in full swing and quality is said to be good with decent volumes available…READ MORE
Madagascar cloves dealers were looking to sell at $13,000 to $15,000 a tonne c&f to Singapore but Singapore traders were hoping for a price of less than $12,000 a tonne. The sellers in Madagascar were trying to sell high to avoid problems with pending contracts…READ MORE
In Madagascar view the crop as around 12,000 to 12,500 tonnes, instead of the 14,000 to 16,000 tonnes estimated earlier. Early harvesting had adversely affected quality, and some exporters in the country were stuck with poor quality cloves they had purchased at high prices earlier this year…READ MORE
Madagascar would not be ready to make any sales until the last week of September or later. Some trade estimates have suggested as much as 15,000 tonnes – the demand pressure would keep prices high and possibly even beyond current levels. Harvesting can run from September to the end of January…READ MORE
INTERNATIONAL cloves prices remain very high due to strong demand which is exacerbating the squeeze on stocks ahead of a hoped-for decent flow of new crop arrivals from various origins. Madagascar would not be ready to make any sales until the last week of September or…READ MORE