Pepper ended weak due to absence of overseas demand though estimates of lower global output and diminishing stocks limited the downside. A likely delay in fresh arrivals due to unseasonal rains is expected to support prices at lower levels. India's pepper exports in October 2010 fell to 1,250 tonnes against 2,750 tonnes a year ago. Spot pepper gained 29.8 rupees to 21646.65 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 22158/quintal while low of Rs 21865/quintal. Now support for the pepper is seen at 21931 and below could see a test of 21751. Resistance is now likely to be seen at 22224, a move above could see prices testing 22337.

Trading Ideas:

Pepper trading range is 21738-22324.

Pepper ended weak due to absence of overseas demand

Pepper looks to test support at 21930 and resistance is seen at 22225.

NCDEX accredited warehouses pepper stocks rose 40 tonnes to 1401 tonnes.

Spot pepper dropped -176.85 rupees to 21440 rupees per 100 kg in Kochi market.