Pepper October settled flat at Rs 20085/quintal tracking some demand in spot at lower levels amid a squeeze in supplies and lower stocks with major producing countries but sluggish export demand weighed on sentiment. Export demand is negligible in pepper. Other producing origins are quoting lower than India. Spot pepper gained 88.75 rupees to 19928.1 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs
20274/quintal while low of Rs 19901/quintal. Now support for the pepper is seen at 19899 and below could see a test of 19714. Resistance is now likely to be seen at 20272, a move above could see prices testing 20460.

Trading Ideas:

Pepper trading range is 19714-20460.

Pepper ended flat tracking some demand in spot at lower levels

Support for the pepper is seen at 19900 and resistance is at 20270.

NCDEX accredited warehouses pepper stocks fell by a tonne to 4297 tonnes.

Spot pepper gained 88.75 rupees to 19928.1 rupees per 100 kg in Kochi market.