Pepper October delivery dropped Rs 798 and settled at Rs 20280/quintal on profit-taking triggered by slack overseas demand as the Indian produce quoted at a premium. Prices may continue to fall as export demand is not picking up. Spot pepper dropped -167.45 rupees to 20626.65 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 21250/quintal while low of Rs 20235/quintal. Now support for the pepper is seen at 19927 and below could see a test of 19573. Resistance is now likely to be seen at 20942, a move above could see prices testing 21603.

Trading Ideas: Pepper trading range is 19573-21603.

Pepper ended lower on profit-taking triggered by slack overseas demand

Support for the pepper is seen at 20000 and resistance is at 20420.

Spread between Pepper OCT & NOV contracts yesterday traded in the range of 150 to 190.

Spot pepper dropped -167.45 rupees to 20626.65 rupees per 100 kg in Kochi market.