Madagascar cloves prices could not be expected to decrease over the near term if the exchange rate of the local currency against the dollar and euro remains unchanged. A devaluation of the currency would be required to create any easing. It has been rumoured that devaluation might be made after local elections in 2014, Lower […]
In Madagascar, harvesting of the crop started early in the southeast of the country. The resulted in a lot of material with high moisture content and therefore of lower quality. Trade estimates have projected Madagascar’s southeast crop to reach around 4,000 tonnes of exportable quality and the northeast crop to be around 2,500 tonnes. Madagascar […]
Disappointing crop in Madagascar Madagascar’s new crop set to be very poor, being forecast by Nee to reach only 6,000 to 7,000 tonnes. It is estimated that some 60 to 70% of this will come from the south of the island, meaning quality will be not be as good as in some previous years. Trade […]
In Madagascar, there is very little good quality material left to buy and domestic prices at farmgate level remain high at the equivalent of $12,000 a tonne fob. People having stocks are a bit more flexible With the next Madagascar crop set to be less there could be a battle for supplies ahead…READ MORE
Madagascar, for example, just 500 to 700 tonnes are available at “very high” prices. “They are selling at over $13,000 a tonne fob” As a result, it is difficult to know the exact quantities shipped from Madagascar. At the present time, several shippers say that the cloves carryover could be approximately 3,000 tonnes, but others […]