MARKET REPORT - CLOVES

Comoros small crop of about 1500-2000 mts is almost sold, indications from that origin at $ 4650
Madagascar new crop in October is likely to be much smaller than last year, around 8000 mts, price for the same will start by middle October, 2020.
Indonesia has a good crop and is having steady demand from Middle East and Africa. The colour this year is not as good as all years . Current price indication is USD $ 4500/- PMT
Brazil's last year cloves crop was big, hence we estimat this year's crop will be a small one.
 

Currently, India and Indonesian cigarette companies are not active in the market, which is reflecting the existing weak sentiment in the market. As and when either of these markets become active, we may see firm tendency.

Sri Lanka
Srilanka crop starting in November expected to be above average.from reports from farmers it's anticipated to be around 2500-3000 tons, if weather conditions are favourable till harvest.
Harvesting begins in mid November and offers expected in mid December.
Quantity of oven dry LAL PARI will exceed last year as more and more farmers and traders installing more ovens.
Current prices are high compared to other origins due to lack of materials or rather poor arrivals, therefore there is no selling pressure on the side of farmers and traders.
But once the new crop arrival starts we can expect the prices to match the demand.