Pepper may trade slightly positive today: Karvy Commodities

Karvy Commodities Broking has come out with its report on Oil and Oilseeds and Spices. According to the research firm Pepper prices are expected to trade on slightly positive note on continued recovery.

Oil and Oilseeds Insight:
Oil complex might extend losses for today as meal export data of soybean has come very lower in the current financial year. While the mustard meal exports are much lower this might keep the prices of mustard alone in the entire complex higher. Lower production estimations to come in the supply demand report also might limit the down side. Edible oils might remain weak as the demand front of the oils is reported very weak which might have negative impact on prices. Demand for palm oil is declining along with weak production scenario which is affected by weather conditions. Demand might even shift towards soy oil which might limit down fall in soy oil prices.

Spices Insight:
Pepper: Pepper prices are expected to trade on slightly positive note on continued recovery. Good domestic demand is likely to support the prices initially. However, overall trend is likely to remain subdued due to sluggish export activity. The estimates given by IPC for Indian production in 2012 are down by 10% Y/Y to 43000 tons. However, overall world

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