A PLOY by Indonesia to reduce the price of its own cloves crop so that it can buy foreign supplies more cheaply has undermined the global price but could be shortlived. Even though Indonesian demand has fallen to about 70,000 tonnes from a high of 100,000 tonnes because of the declining popularity…READ MORE
However, there is also a possibility that Indonesia will not seek to make up for its low production by importing a large amount of cloves this year. The market is very quiet at the moment…READ MORE
CLOVE leaf oil prices have risen to their highest prices in three years as poor production in the main origins has led to tight supplies. Indonesian clove leaf oil spot experienced a similar rise to $6.50 a kg up from $6.00 a kg….READ MORE
The crop in Indonesia this year is estimated at 30,000 to 35,000 tonnes and it will be nearer 30,000 tonnes. The low crop in Indonesia this year compares with production last year which was estimated at 50,000 to 65,000 tonnes. Demand in Indonesia is high because cloves are used to…READ MORE
GLOBAL cloves prices have risen further over recent weeks as reduced availability cancels out any potential price dampening effects of sluggish demand. Indonesia’s new crop starts in August, but it is widely known that the quantity will be small, so prices are expected to be subject to a lot of upward pressure. The Bangalore trader […]
GLOBAL cloves prices look prone to increase over the coming weeks as buyers take cover against a market of limited availability. Indonesia’s 2006 crop, which will be harvested from June to August, is projected to fall to around 30,000 tonnes from the 2005 crop estimate of between 50,000 and 60,000 tonnes…READ MORE
GLOBAL cloves prices have faced extreme upward pressure over the early stages of 2006 due to a combination of supply uncertainties and intense speculation. Prices have risen to the region of $4,200 a tonne camp;f from average levels of around $2,900 a tonne in early January. Currently, Indonesia is virtually out of 2005 crop stocks […]