Commodity Outlook for Pepper by Kedia CommodityPepper November delivery dropped Rs 161 and settled at Rs 18370/quintal as sluggish export demand for Indian produce and weak global pepper weighed on sentiment. Fresh arrivals of pepper from new crop in Brazil pressurized prices. Sentiment is weak because of poor exports. Indian produce is still at a premium to competitors. Spot pepper dropped -69.1 rupees to 18558.2 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 18578/quintal while low of Rs 18256/quintal. Now support for the pepper is seen at 18225 and below could see a test of 18079. Resistance is now likely to be seen at 18547, a move above could see prices testing 18723.
Pepper trading range is 18079-18723.
Pepper ended weak as sluggish export demand weak global pepper weighed on sentiment
Pepper looks to test support at 18225 and resistance is seen at 18547.
Fresh arrivals of pepper from new crop in Brazil pressurized prices.
Spot pepper dropped -69.1 rupees to 18558.2 rupees per 100 kg in Kochi market.