Rising price of Indonesian clove amid strong demand from China and Taiwan

In the midpoint of the third week of December 2020, the FOB price of lal pari clove has been reported at USD 5000/MT, up from its price in the past two weeks at USD 4800/MT. This 4.1% increase has mostly been driven by high demand from major importing countries such as China and Taiwan. Both countries have been trying to maximize production of their cigarette in preparation for potential demand surges heading into the New Year holiday season. As the majority of clove exporters are experiencing such high demand, it will take up to two weeks to complete preparing cloves for new inquiries.