Pepper rises on fresh buying

The pepper futures traded higher on active fresh buying on Thursday. Futures took small corrections before resuming the uptrend. Reports of nil arrivals from producing belt further added to the upside.
However, during afternoon hours prices witnessed very choppy trade. Nonetheless, active buying interest fueled the prices and futures witnessed huge rally during closing hour and ended higher.
Outlook
The pepper futures are expected to open on positive note on follow through buying on Friday. Fresh buying in far month contracts due to February contract expiry might support the prices. However, profit booking can be seen during the day but that recovery might not last longer.
Prices quoted by India in international market remained out priced at $5575-5600 per ton while Vietnam ASTA is at $5400-5450 per ton, Lampong ASTA is at $5475-5575 per ton and Brazil ASTA is quoted at $5000-51000 per ton.
Very limited arrivals are reporting at spot market of Kochi which is supporting the upside in prices.
As per trade sources, arrivals are not picking up from both India and Vietnam which is creating .confusion among the investors.
Lower quotes offered by Vietnam might weigh on prices in coming days.
According to derivative analysis, prices, volumes and open interest all are rising. Market is attracting larger numbers of traders willing to open positions from the long side and hold them. Traders are more confident that prices will continue to climb in favor of a working long.

(Source: http://www.commodityonline.com/futures-trading/technical/Pepper-rises-on-fresh-buying-22032.html)