International cloves dealers have highlighted bullish factors that look set to underpin the market in the coming months, which implies a near zero possibility of any significant downward movement in prices The stock ratio would have dwindled as low as not even two weeks consumption at the end of September, just before the Madagascar crop […]
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 […]
In Madagascar, within a month there would be no more cloves available in the bush/villages and all the remaining stocks would be in the hands of exporters or middlemen, who were affluent enough this year to sit on their stocks until they felt prices had reached an attractive level to sell at, the report predicted. […]
Rich stockists holding stock in Madagascar Madagascar’s latest crop had been fully harvested and the balance of stock – possibly 3,500 tonnes – was in the hands of rich stockists, These speculators would not sell at a loss and their current cost price was quite high with the next crop not due until November. “Madagascar’s […]
CLOVES speculators in Madagascar have been doing their utmost to try and push the market even higher despite global buyers proving reluctant to take much cover at current levels. The local prices in Madagascar had increased to $12,500 a tonne fob from $10,000 a tonne 10 days ago. The increase seems to be due to […]
In Madagascar, the crop from the southern areas is expected to be small, while that from the north is forecast to be good. Local farmgate prices have remained high at MGa65 a kg, meaning cost prices for the shipper after cleaning and drying the goods of at least $10,000 a tonne. Based on this opening […]