Better supply from Vietnam is typically bearish for pepper but the question of when buyers - who have run down stocks if possible - will step into the market is crucial this year. ALTHOUGH pepper is seen as a relatively recession-proof item in terms of overall consumption, economic uncertainty has meant that global buyers have continued to limit the extent of their forward coverage in recent months. As a result, the downward pressure of Vietnam's new crop in February was intensified, with some sharp falls seen in late January, as harvesting got under way. This was despite broad variations in estimates of the size of the crop... Read More