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 […]
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
Some sources have claimed last year’s Indonesian crop was as much as 100,000 tonnes, but recent offers cast major doubts over these estimates. Good quality Indonesian cloves have been quoted around $7,300 a tonne c&f and even lower quality produce has been commanding prices of $6,645 a tonne, indicating that other crop estimates of 65,000 […]
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
CLOVE oil prices have shot up as the eruption of Mount Merapi in Indonesia has interrupted supplies during an already tight time. Mount Merapi started erupting on October 26, with a series of eruptions following. On Wednesday, the 2,968-metre high volcano in Central Java re-erupted, spewing hot ash 1,500 meters into the air and spreading […]
The decrease in price may be helped soon by the end of the large Far East demand when Indonesian distillation will start. and whether it will be in November 2010 or in January 2011, or even in March, but assume is that the market must decline to ensure good flow of oil in the future…READ […]
GLOBAL supplies of cloves look set for a substantial increase this year as initial crop forecasts are favorable, and buying interest for new crop produce is expected to be strong as importers need to build up inventories. Producing countries will be bringing their new crop cloves to the market from June or July onwards, starting […]
Indonesia is expected to remain absent as a buyer as its next crop in May/June is forecast to be a decent one of around 80,000 tonnes. In the meantime, the prices in Indonesia will remain high – most probably above $5,000 (a tonne) because the Indonesian cigarette manufacturers need to buy as the carryover there […]
One of the major areas of uncertainty, as usual, is over the extent of Indonesia’s own crop and potential need to import. This is what is making it so difficult to make a clear forecast on where this market will be stand. Indonesia had indicated they were anticipating a good crop next April/May. If realized, […]
The biggest question mark is what Indonesia is up to. Also we have not seen any significant demand for quite a while…READ MORE