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.
With this shrinking inventory, prices were being raised on a regular basis by these so-called collectors.
Cargo offered at less than $12,000 a tonne fob and the next Madagascar crop would not come through in the next seven to eight months...READ MORE