Pepper ended weak tracking weakness in the spot market and on sluggish overseas demand. Overseas demand for the Indian origin pepper is weak because prices are at premium compared with other competing countries in the international market. Spot pepper dropped 124 rupees to end at 16,241 rupees per 100 kg in Kochi. June delivery dropped Rs 238 and settled at Rs 16686/quintal. The contract touched the intraday high of Rs 16949/quintal while low of Rs 16650/quintal. Now support for the pepper is seen at 16574 and below could see a test of 16463. Resistance is now likely to be seen at 16873, a move above could see prices testing 17061.

Pepper trading range is 16463-17061.

Pepper ended weak tracking weakness in the spot market and on sluggish overseas demand

Support for the pepper is seen at 16540 and resistance is at 16820.

NCDEX accredited warehouses pepper stocks gained by 10 tonnes to 3311 tonnes.

BUY PEPPER JUNE @ 16500-560 SL 16380 TGT 16640-16756-16850.NCDEX

Spot pepper fell 124 rupees to end at 16241 rupees per 100 kg