Pepper September delivery dropped Rs 378 and settled at Rs 19497/quintal on sluggish overseas demand as lower priced Indonesian produce discouraged exports. Local demand is good but lower price of Indonesian produce is hurting export demand. Indian pepper is quoting at a premium to other origins in overseas. In Kochi, a major trading hub in Kerala, spot pepper gained 72 rupees to end at 19,919 rupees per 100 kg. The contract touched the intraday high of Rs 20050/quintal while low of Rs 19390/quintal. Now support for the pepper is seen at 19241 and below could see a test of 18986. Resistance is now likely to be seen at 19901, a move above could see prices testing 20306.

Trading Ideas:

Pepper trading range is 18986-20306.

Pepper ended weak on sluggish overseas demand

Support for the pepper is seen at 19240 and resistance is at 19640.

Indian pepper is quoting at a premium to other origins in overseas.

In spot pepper prices gained by 72 rupees to at 19919 rupees per 100 kg