Negligible trading activities are being seen in pepper. Moreover, domestic as well as overseas demand is also reportedly low. Bullishness is not expected until demand increases.
Market is likely to show movement in the range of Rs 200/Q. Though there is scarcity of sellers but export demand is fulfilled through hedgers. Exporters demand is not expected to increase in mandis until trading activities increase.
Traders are purchasing it from the future market as pepper is cheaper there while there is no seller at present level in spot market. Moreover, export is expected to be low until selling from Vietnam does not stop.
Arrivals have started in Indonesia. Nearly 22000-25000 ton Pepper is produced there, which is mainly exported to America. Moreover, arrival is expected to start soon in Malaysia. Nearly 15000-18000 ton pepper is produced there.
In Brazil, arrival starts from November. Here, annual production of pepper is nearly 30000-35000 ton.
Intraday Trend: Pepper prices are expected to move range bound on the lower side.
