Pepper September delivery gained Rs 208 and settled at Rs 20420/quintal on weak supplies and lower stocks offsetting weakness in export demand as Indian produce is quoted at a premium in the international market. Prices are unlikely to sustain at these levels as export demand is negligible. Leading Indian pepper exporters bought 125 tonnes of pepper driving prices up sharply. Spot pepper gained 584.4 rupees to 20237.5 rupees per 100 kg in Kochi market. The contract touched the intra day high of Rs 20845/quintal while low of Rs 20156/quintal. Now support for the pepper is seen at 20102 and below could see a test of 19785. Resistance is now likely to be seen at 20791, a move above could see prices testing 21163.

Trading Ideas:

Pepper trading range is 19785-21163.

Pepper ended higher on weak supplies and lower stocks

Support for the pepper is seen at 20280 and resistance is at 20580.

Leading Indian pepper exporters bought 125 tonnes of pepper driving prices up sharply

Spot pepper gained 584.4 rupees to 20237.5 rupees per 100 kg in Kochi market.