Pepper March delivery dropped Rs -162 and settled at Rs 13149/quintal in the line of expectation told early this week only that some pull back is expected in the market on pressure from fresh arrivals and weak exports, Pepper is expected to trade weak as arrivals in Coorg, Karnataka is expected to start by last week of February. Spot pepper slumped 121 rupees to end at 13,247 rupees per 100 kg in Kochi, a major trading hub in Kerala. India's pepper output in 2010 is expected around last year's levels, but prices are unlikely to fall sharply in coming months due to low carry-over stocks. Indian December pepper exports stood at 1,750 tonnes, down 32 percent on year, the Spices Board said.. The contract touched the intra day high of Rs 13288/quintal while low of Rs 13080/quintal. Now support for the pepper is seen at 13057 and below could see a test of 12964. Resistance is now likely to be seen at 13265, a move above could see prices testing 13380.

Trading Ideas:

Pepper trading range is 13075-13215.

Pepper futures dipped as per expectation on pressure from fresh arrivals and weak exports also profit booking.

Indian December pepper exports stood at 1,750 tonnes, down 32 percent on year

Spot pepper slumped 121 rupees to end at 13,247 rupees per 100 kg in Kochi, a major trading hub in Kerala.

SELL PEPPER MAR @ 13230-260 SL 13330 TGT 13160-13080-13000.NCDEX

Support for the pepper is seen at 13000 and resistance is at 13460 evening session market will bounce again.