Pepper November delivery gained Rs 256 and settled at Rs 18970/quintal as a supply squeeze at home and low stocks with most producing countries prompted buying. A pick-up in domestic demand is supporting prices. V. J. Kurian, chairman, Spices Board of India said that he expected pepper exports to touch 22,000-25,000 tonnes by the end of 2010-11 as key producing countries have sold most of their crop. Spot pepper gained 192.15 rupees to
18808.8 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 19175/quintal while low of Rs 18695/quintal. Now support for the pepper is seen at 18718 and below could see a test of 18467. Resistance is now likely to be seen at 19198, a move above could see prices testing 19427.

Trading Ideas:

Pepper trading range is 18467-19427.

Pepper ended positive as a supply squeeze and low stocks prompted buying

Pepper looks to test support at 18718 and resistance is seen at 19198.

Pepper exports to touch 22,000-25,000 tonnes by the end of 2010-11 - Spices Board of India

Spot pepper gained 192.15 rupees to 18808.8 rupees per 100 kg in Kochi market.