Import of cloves from Sri Lanka to become dearer
Imports of cloves could become costlier for India during 2008, as its main supplier Sri Lanka is likely to suffer a decline in output on account of adverse weather conditions.
By PTI |
COLOMBO: Imports of cloves could become costlier for India during 2008, as its main supplier Sri Lanka is likely to suffer a decline in output on account of adverse weather conditions.
Cloves production in Sri Lanka is estimated at around 2,000 tonnes during next year as against the earlier forecast of about 5,000 tonnes due to adverse weather conditions and other factors.
India is expected to import over 1,800 tonnes of cloves from Sri Lanka during 2008, as per traders estimates.
The total import of cloves by India during April October 2007-08 stood at 3,610 tonnes valued at Rs 44.33 crore as against 2,881 tonnes valued at Rs 53.97 crore in corresponding period last fiscal.
The total demand of cloves is estimated between 8,000 tonnes to 10,000 tonnes.
Other major producers such as Indonesia, Zanzibar and Brazil are also bracing for a dip in output.
Experts estimate global prices of cloves to shoot up to around 6,000 dollars a tonne as inventory in the world markets are drying up.
India has so far been unsuccessful in pushing up domestic production of cloves which has been veering around 1,300 to 1,800 tonnes an annum for the last few years.
India Institute of Spice Research has been conducting studies to push up production and has recently introduced some new varieties in this regard.
Cloves production in Sri Lanka is estimated at around 2,000 tonnes during next year as against the earlier forecast of about 5,000 tonnes due to adverse weather conditions and other factors.
India is expected to import over 1,800 tonnes of cloves from Sri Lanka during 2008, as per traders estimates.
The total import of cloves by India during April October 2007-08 stood at 3,610 tonnes valued at Rs 44.33 crore as against 2,881 tonnes valued at Rs 53.97 crore in corresponding period last fiscal.
The total demand of cloves is estimated between 8,000 tonnes to 10,000 tonnes.
Other major producers such as Indonesia, Zanzibar and Brazil are also bracing for a dip in output.
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Experts estimate global prices of cloves to shoot up to around 6,000 dollars a tonne as inventory in the world markets are drying up.
India has so far been unsuccessful in pushing up domestic production of cloves which has been veering around 1,300 to 1,800 tonnes an annum for the last few years.
India Institute of Spice Research has been conducting studies to push up production and has recently introduced some new varieties in this regard.
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