Overseas buyers are remaining silent since couple of weeks in anticipation that the pepper prices in the international market may ease further due to fresh pepper arrivals from Vietnam. This may pressurize the prices in the short term.

Further, pepper prices in the short term (till March) may depend on the arrivals in the domestic mandis, overseas and domestic demand and pepper prices in the international market of the various origins such as Indian, Vietnam, Brazil and Indonesia.

In the medium to long term (April onwards) prices may depend on the pepper stocks in Vietnam, Indonesia and Brazil. Demand from the overseas and domestic market, clear production estimates of Vietnam.

Technical Analysis
The 14-Day RSI is at 39.9 and is trading in sideways to down manner.

Prices closed below its 10-Day and its 20-Day EMA indicating sideways trend.

Outlook:
Pepper prices in the intraday may trade in sideways manner due to lacklustre trades at the domestic market. In the short term (till March) Pepper prices may be determined by demand from the domestic and overseas buyers and fresh pepper arrivals in the domestic market. In the medium to long term (April onwards) prices may be determined by the demand from the overseas and domestic market, pepper production in Vietnam, pepper price parity of the major origins such as Brazil, Indonesia, India and Vietnam.

Courtesy: Angel Commodities

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