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This led to prices moving up in Indonesia and exporters who were very keen to sell, have now withdrawn offers and waiting for market to stabilize before giving fresh offers/taking orders.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