Pepper September delivery gained Rs 103 and settled at Rs 20240/quintal on diminishing stocks and restricted supplies, offsetting pressure from weak exports for high priced Indian produce. But sluggish overseas demand weighed on the prices. Spot pepper dropped -333.65 rupees to 19898.1 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 20390/quintal while low of Rs 19765/quintal. Now support for the pepper is seen at 19873 and below could see a test of 19507. Resistance is now likely to be seen at 20498, a move above could see prices testing 20757.

Trading Ideas:

Pepper trading range is 19513-20763.

Pepper ended positive on diminishing stocks and restricted supplies

Support for the pepper is seen at 20100 and resistance is at 20400.

Vietnam exported 82,000 tonnes of pepper so far this year

Spot pepper dropped -333.65 rupees to 19898.1 rupees per 100 kg in Kochi market.