Cloves Indonesia

Cloves prices expected to move up in Indonesia

Cloves market which was running quite subdued for a long time, saw some action last week as Indonesia cigarette companies covered almost 25,000 mts at IDR 80,000/- levels farm gate price from farmers/collectors.

This led to prices moving up in Indonesia and exporters who were very keen to sell, have now withdrawn offers and waiting for market to stabilize before giving fresh offers/taking orders.

Local exporters believe cigarette companies may again enter markets to cover some more quantities at these attractive levels.

This report by anonimus (broker from India)