Today Pepper Outlook(19marc): Angel Commodities
Published on Friday, March 19th, 2010 at 3:13 PMAuthor: onlinecommoditycalls (1958 Articles)
Fundamental Analysis
Reports of delayed harvesting and stockiest at the domestic market not ready to sell pepper at lower levels may support prices in the short term.
Indian pepper prices as compared to other origins are competitive and difference is merely RS.100/qtl which may drive overseas buyers to the Indian nation.
In the medium to long term (April onwards) prices may depend on the pepper stocks in Indonesia and Brazil. Demand from the overseas and domestic market, clear production estimates of Vietnam.
Technical Analysis
The 14-Day RSI is at 64.9 and is trading in sideways to up manner.
Prices closed above its 10-Day and its 20-Day EMA indicating upward trend.
Outlook:
Pepper prices in the intraday may trade in sideways to up manner due to buying by the domestic stockists. In the short term (till March) Pepper prices may be determined by demand from the domestic and overseas buyers and fresh pepper arrivals in Vietnam. 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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