Madagascar Cloves Crop Update

The clove harvest in Madagascar has just begun, with shipments expected to start in November.

This crop is particularly significant for the global clove market, as Indonesia's crop is anticipated to be sold for 70-80%, only 20 to 30% is still with the farmers. Additionally, reports from Indonesia suggest that farmers are holding onto stock, speculating that prices will rise.
 
Insiders indicate that export licenses in Madagascar will be issued by late October or early November. We are also receiving reports that Madagascar's crop may be smaller than expected, some reports suggest 10 KMT in stead of the usual 18 KMT. Typically, Indonesia and Madagascar are key players in the global clove market. Alternative export sources include Zanzibar, the Comoros, Sri Lanka, and Brazil.
 
Clove buyers are advised to review their needs and coverage carefully. Contact us for firm offers.