Indonesia’s smaller cloves crop prompts worldwide price spike

May 20, 2011 By:

INTERNATIONAL cloves prices have been subjected to strong upward pressure of late due to shortages of material ahead of an expected smaller crop from Indonesia. One Indonesian trader reported that local offers had been made at historical highs of Rp120,000 per kg, which would equate to around $15,000 a tonne. The trader noted that earlier […]

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Shortages propel cloves prices into stratosphere

May 16, 2011 By:

Recent estimates on last year’s crop have ranged from 60,000 to 80,000 tonnes given for the 2010 crop. Previous forecasts had pegged Indonesia’s 2010 crop as high as 100,000 tonnes, but the strength of Indonesian prices of late lends support to the view that the actual outcome was lower than this…READ MORE

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