Pepper December delivery gained Rs 162 and settled at Rs 21990/quintal on expectations untimely rains would delay fresh arrivals, while a squeeze in supply and estimates of lower global production also supported buying. Export demand is not much currently, but may pick up on winter demand. India's pepper exports in October 2010 fell to 1,250 tonnes against 2,750 tonnes a year ago. Spot pepper dropped -13.35 rupees to 21786.65 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 22057/quintal while low of Rs 21764/quintal. Now support for the pepper is seen at 21817 and below could see a test of 21644. Resistance is now likely to be seen at 22110, a move above could see prices testing 22230.

Trading Ideas:

Pepper trading range is 21633-22219.

Pepper ended positive on expectations untimely rains would delay fresh arrivals

Pepper looks to test support at 21820 and resistance is seen at 22110.

NCDEX accredited warehouses pepper stocks fell 177 tonnes to 1961 tonnes.

Spot pepper dropped -13.35 rupees to 21786.65 rupees per 100 kg in Kochi market.