Pepper ended lower on sluggish overseas demand and rising supply. Export demand is not picking up as our prices are at premium in the international market. Arrivals in the physical market have increased to 40-50 tons against 30 tonnes in the start of the month. Spot pepper jumped 150 rupees to end at 16365 rupees per 100 kg in Kochi. June delivery dropped Rs 58 and settled at Rs 16925/quintal. The contract touched the intraday high of Rs 17139/quintal while low of Rs 16880/quintal. Now support for the pepper is seen at 16824 and below could see a test of 16722. Resistance is now likely to be seen at 17083, a move above could see prices testing 17240.

Trading Ideas:

Pepper trading range is 16722-17240.

Pepper ended lower on sluggish overseas demand and rising supply

Support for the pepper is seen at 16780 and resistance is at 17040.

NCDEX accredited warehouses pepper stocks gained by 196 tonnes to 3301 tonnes.

BUY PEPPER JUNE ABV 17000 SL 16880 TGT 17080-17180-17265.NCDEX

Spot pepper jumped 150 rupees to end at 16365 rupees per 100 kg