Pepper November delivery dropped Rs 123 and settled at Rs 18607/quintal as the traders booked profits ahead of the weekends. The supplies from Vietnam, world's leading pepper exporter are expected to have exhausted and the Indian parity is expected to gain currency with the global consumers. According to General Statistics Office Of Vietnam, the country has exported nearly 7,000 tonnes of pepper with value of 30 million USD in the month of September 2010. Spot pepper dropped -90 rupees to 18630 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 18765/quintal while low of Rs 18563/quintal. Now support for the pepper is seen at 18525 and below could see a test of 18443. Resistance is now likely to be seen at 18727, a move above could see prices testing 18847.

Trading Ideas:

Pepper trading range is 18443-18847.

Pepper ended weak as the traders booked profits ahead of the weekends

Pepper looks to test support at 18525 and resistance is seen at 18730.

The supplies from Vietnam are expected to have exhausted

Spot pepper dropped -90 rupees to 18630 rupees per 100 kg in Kochi market.