Pepper October delivery gained Rs 560 and settled at Rs 19194/quintal lead by heavy short covering amid tight supply situation. Tight supply position against strong demand is supporting the pepper prices to move further in the domestic futures market. The availability in India and Vietnam is limited while harvesting is under progress in Brazil and Indonesia. The domestic demand is very high in India and current demand is very high ahead of the festive season. Spot pepper gained 19.65 rupees to 18998.2 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 19194/quintal while low of Rs 18580/quintal. Now support for the pepper is seen at 18785 and below could see a test of 18375. Resistance is now likely to be seen at 19399, a move above could see prices testing 19603.

Trading Ideas:

Pepper trading range is 18329-19557.

Pepper ended higher lead by heavy short covering amid tight supply situation

Pepper looks to test support at 18785 and resistance is seen at 19399.

Availability in India and Vietnam is limited while harvesting is under progress in Brazil and Indonesia.

Spot pepper gained 19.65 rupees to 18998.2 rupees per 100 kg in Kochi market.