Pepper September delivery gained Rs 70 and settled at Rs 19140/quintal on some buying interest supported by a squeeze in supplies and poor stocks, offsetting subdued overseas demand. Lower-level buying towards the end lifted prices. Vietnam's export target for the year 2010 has been reduced by 27 percent to 100,000 tonnes against 136,500 tonnes last year. In Kochi, a major trading hub in Kerala, spot pepper fell 196 rupees to end at 19,100 rupees per 100 kg. The contract touched the intraday high of Rs 19270/quintal while low of Rs 18860/quintal. Now support for the pepper is seen at 18910 and below could see a test of 18680. Resistance is now likely to be seen at 19320, a move above could see prices testing 19500.

Trading Ideas:

Pepper trading range is 18680-19500.

Pepper ended positive on some buying interest supported by squeeze in supplies

Support for the pepper is seen at 18910 and resistance is at 19320.

NCDEX accredited warehouses pepper stocks rose by 9 tonnes 4308 tonnes.

In spot pepper prices fell by 196 rupees to 19100 rupees per 100 kg