Pepper ended down on lack of export demand and as arrivals pick up. The depreciating dollar is making things difficult for Indian origin pepper and not allowing exporters to quote in line with competition. While imports continue to remain the better option for the re-exporters in India. Spot pepper rose marginally by 4 rupees to end at 13,946 rupees per 100 kg in Kochi. January delivery dropped Rs 58 and settled at Rs 13722/quintal. The contract touched the intraday high of Rs 13850/quintal while low of Rs 13631/quintal. Now support for the pepper is seen at 13619 and below could see a test of 13515. Resistance is now likely to be seen at 13838, a move above could see prices testing 13953.

Trading Ideas:

Pepper trading range is 13450-14000.

Pepper yesterday ended down due to lack of export demand

Imports continue to remain the better option for the re-exporters in India

Spot pepper rose by 4 rupees to end at 13,946 rupees per 100 kg

SELL PEPPER JAN @ 13850-13900 SL 14040 TGT 13780-13700-13610.NCDEX