Pepper September delivery dropped Rs 271 and settled at Rs 21180/quintal tracking weakness in other spices, though an improvement in the exports limited the downside. Indian ASTA pepper at $4700-4800 per ton is the highest priced variety in global markets. Meanwhile, India's pepper exports in April-July 2010 rose 2 per cent to 6,750 tonnes from the same period a year ago. Spot pepper dropped -53.55 rupees to 20823.1 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 21580/quintal while low of Rs 21060/quintal. Now support for the pepper is seen at 20967 and below could see a test of 20753. Resistance is now likely to be seen at 21487, a move above could see prices testing 21793.

Trading Ideas:

Pepper trading range is 20763-21803.

Pepper ended down on profit booking tracking weakness in other spices

Support for the pepper is seen at 21000 and resistance is at 21320.

Indian ASTA pepper at $4700-4800 per ton is highest priced variety in global markets

Spot pepper dropped -53.55 rupees to 20823.1 rupees per 100 kg in Kochi market.