CLOVES MARKET - WHERE´S THE TRUTH ?

It has been more than one month already that we feel the cloves market very speculated with a sort of bullish reports but not big activity.
Peppertrade editors have a baseline to avoid speculative actions and movements, checking and re-checking received information in order to preserve our credibility and transmit as close as possible the market reality.
For this reason we kept in silence during all this time, moreover because the real true information about the crops, industry and stocks of the cloves is very difficult to be obtained within the desired accuracy.
However when news are being published in the big press we feel obliged to inform our readers too, even under this little considerations.
Apparently it is expected a big shortage of cloves this year, which is causing great boom in demanded prices.
Expectations are that these prices may reach somewhere between 6 and 8 thousand dollars per ton until the end of the year which is when the new African and Brazilian crops begin.
It has been reported that traders quoted Madagascan cloves at between $4,800 and $4,900 a tonne cif Singapore and at E 3,679 ($4,700) a tonne cif European ports at this moment and Indonesian offers were ranging from $5,500 to $5,800 a tonne c&f Indian ports.
Some traders say that, in view of the anticipated lower Indonesian output this year, prices of Indonesian cloves are likely to face sharp increases over the coming weeks. Trade estimates have pegged the Indonesian crop at just 35,000 tonnes. "They need at least twice this volume, " they say.One Bangalore trader remarked that world markets were virtually empty of clove stocks and he predicted that prices could easily surge to at least $6,500 a tonne over the coming weeks.

"The market is short and prices are high."
This is what some traders say. It is reported by some, that presently the market in Singapore is currently more expensive than that in Europe.The instability of the rupiah is making the market in Singapore and the Far East nervous. "As soon as it is stable again the market will move, " is been predicted.
Singapore, Pakistan and Dubai are headquarters of big stockist which may bring a sort of stability to the market with availablity all round the year. In february when the uncertainity begun one big trader in Singapore assured Peppertrade Editors that there were over 20,000 mt stocks lying there.
Actually these are the reports we have about the cloves at present time.
As one trader of a french trading company said:
"The market is very firm but not active, which is strange, " he said.
INDEED we say.