INTERNATIONAL spice dealers believe that global cloves prices must be due for a downward correction at some point this year, despite continued sharp advances being seen in recent weeks and key origin Madagascar facing the onslaught of a tropical cyclone. In the week to February 10, Madagascar cloves prices…READ MORE
INTERNATIONAL cloves prices have eased in recent weeks but the dip is seen as only a temporary correction as overall availability looks tight and middlemen and exporters in key origin Madagascar are keeping a tight grip on any remaining new crop stocks…READ MORE
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