Pepper prices in the intraday are expected to witness further selling on account of fragile demand from the overseas and domestic buyers.
In the short term (till February) prices are likely to take cues from fresh arrivals in the domestic market and Vietnam.
Arrivals will gain momentum by mid of February in the domestic markets. This is likely to pressurize prices in that period.
In the medium to long term (March to April 2012) prices are likely to witness selling pressure as the global pepper production estimates are projected to be higher as compared to last year and fresh arrivals will be at peak in the domestic market.
Prices in the international market of major origins will also determine price trend in the domestic market.
Black Pepper NCDEX Feb Futures Rs/qtl support: 28600-29000 resistance: 30000-30400
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