Pepper August delivery gained Rs 131 and settled at Rs 19668/quintal supported by pick up in spot demand against restricted supplies. Estimates of lower global output also influenced pepper prices. Meanwhile, Vietnam, the world's largest producer and exporter of spices is expected to produce 100,000 tonnes of black pepper in 2010, down 5 per cent, year on year. In Kochi, spot pepper inched down 58.35 rupees to 19,847.20 rupees per 100 kg. The contract touched the intraday high of Rs 19775/quintal while low of Rs 19425/quintal. Now support for the pepper is seen at 19470 and below could see a test of 19273. Resistance is now likely to be seen at 19820, a move above could see prices testing 19973.

Trading Ideas:

Pepper trading range is 19273-19973.

Pepper ended positive supported by pick up in spot demand against restricted supplies

Support for the pepper is seen at 19500 and resistance is at 19800.

NCDEX accredited warehouses pepper stocks rose by 26 tonnes to 4275 tonnes.

In spot pepper prices fell by 58.35 rupees to at 19847.20 rupees per 100 kg