Pepper October delivery dropped Rs 115 and settled at Rs 18766/quintal on subdued overseas demand and hopes of a likely rise in output due to good rains in key cultivating regions.  India is still out priced in the international market. Export demand will improve only if Indian parity comes down. Spot pepper gained 39.3 rupees to 19257.15 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 19150/quintal while low of Rs 18725/quintal. Now support for the pepper is seen at 18611 and below could see a test of 18455. Resistance is now likely to be seen at 19036, a move above could see prices testing 19305.

Trading Ideas:

Pepper trading range is 18455-19305.

Pepper ended weak on subdued overseas demand and hopes of a likely rise in output

Pepper looks to test support at 18611 and resistance is seen at 19036.

Export demand will improve only if Indian parity comes down.

Spot pepper gained 39.3 rupees to 19257.15 rupees per 100 kg in Kochi market.