Pepper September delivery dropped Rs 125 and settled at Rs 20230/quintal as pressure from a weak spices complex and poor export demand saw traders book profits after a 6 percent. Vietnam, Brazil and Indonesia are the major competitors of India in the international market. Subdued export demand and fall in other spices pressurized pepper prices. Spot pepper gained 86.75 rupees to 20075 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 20720/quintal while low of Rs 20034/quintal. Now support for the pepper is seen at 19936 and below could see a test of 19642. Resistance is now likely to be seen at 20622, a move above could see prices testing 21014.

Trading Ideas:

Pepper trading range is 19651-21023.

Pepper ended weak as pressure poor export demand weighed on prices

Support for the pepper is seen at 20100 and resistance is at 20380.

Vietnam, Brazil and Indonesia are the major competitors of India

Spot pepper gained 86.75 rupees to 20075 rupees per 100 kg in Kochi market.