Madagascar Local market Clove update: 13th November, 2024:-
Trend continues bullish. Stock availability is limited in the sense, sellers, local traders and farmers are not ready to sell; they hold back stock, asking higher and higher price
This week from 9th to 12th - price again increased by Ariary 1000 per kg [ = USD 220 per MT]
Local traders who have stock with them demand 32000 to 34000 per KG raw material at their depot [ raw material with moisture 27% to 30% ] ! Market seems crazy !! What is next ?
As usual every year, now in Madagascar Litchi season starting.
Litchi export season is only for one month - only December.
Therefore, many people will turn to Litchi now. Large scale exporters of Clove also will turn to Litchi - as it is a short time crop. This would create reduced activity in Clove. All available money will move into Litchi business. At this time, it is expected, as like every year,
Clove demand in local market would come down [might come down - a possibility based on past years happening] That would probably be the correction time.
Secondly, Xmas and New Year celebration is very important for Malagasy people.
They need huge amount of cash for these celebrations. I
t is the time of family togetherness, and spending. Therefore, in December, ""marginal"" farmers, stockists, and local traders would need liquid cash - for that they would be ready to sell Clove whatever price possible to get from the market. This would increase availabiltiy in the market.
These are the only expectation now for Clove in the local market.
Trend continues bullish. Stock availability is limited in the sense, sellers, local traders and farmers are not ready to sell; they hold back stock, asking higher and higher price
This week from 9th to 12th - price again increased by Ariary 1000 per kg [ = USD 220 per MT]
Local traders who have stock with them demand 32000 to 34000 per KG raw material at their depot [ raw material with moisture 27% to 30% ] ! Market seems crazy !! What is next ?
As usual every year, now in Madagascar Litchi season starting.
Litchi export season is only for one month - only December.
Therefore, many people will turn to Litchi now. Large scale exporters of Clove also will turn to Litchi - as it is a short time crop. This would create reduced activity in Clove. All available money will move into Litchi business. At this time, it is expected, as like every year,
Clove demand in local market would come down [might come down - a possibility based on past years happening] That would probably be the correction time.
Secondly, Xmas and New Year celebration is very important for Malagasy people.
They need huge amount of cash for these celebrations. I
t is the time of family togetherness, and spending. Therefore, in December, ""marginal"" farmers, stockists, and local traders would need liquid cash - for that they would be ready to sell Clove whatever price possible to get from the market. This would increase availabiltiy in the market.
These are the only expectation now for Clove in the local market.
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