India to buy more cloves from Lanka

India should be able to import cloves from Sri Lanka at cheaper rates as the country is likely to witness higher production of the commodity.

India is virtually the only importer of cloves from Sri Lanka and higher production prospects would be beneficial for it as the commodity would become cheaper.

Clove production in Sri Lanka is estimated to go well over 2,000 tons during this year.

In December, adverse weather conditions had led to fears of dip in clove production to 2,000 tons. But later on with having a good rainfall the hopes of high production has risen up.

According to the estimates by traders here, India is expected to import over 1,800 tons of cloves from Sri Lanka during 2008.

India is a major consumer of cloves with an annual demand of 6,000-8,000 tons.

(PTI)