Hoarding outweighs good crop arrivals to push up clove prices
Indonesian sources have forecast that the country’s next crop in May 2011 will be substantially lower than normal, possibly reaching 50,000 to 70,000 tonnes instead of the usual 80,000 to 90,000 tonnes. If realized, Indonesian cloves prices could escalate to $9,000 a tonne in May or June next year…READ MORE