Pepper January delivery gained Rs 259 and settled at Rs 21957/quintal supported by some enquires from the overseas players amid a squeeze in supplies, while expectations of late arrivals also helped. Unseasonal rains would delay pepper arrivals in India's premier producing state, tightening supplies and keeping prices firm in the medium term, but it would not significantly affect production. Export enquires have started coming in for the Indian pepper at these prices. Spot pepper gained 62 rupees to 21435.3 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 22040/quintal while low of Rs 21664/quintal. Now support for the pepper is seen at 21734 and below could see a test of 21511. Resistance is now likely to be seen at 22110, a move above could see prices testing 22263.

Trading Ideas:

Pepper trading range is 21511-22263.

Pepper ended higher supported by some enquires from the overseas

Pepper looks to test support at 21734 and resistance is seen at 22110.

NCDEX accredited warehouses pepper stocks fell 87 tonnes to 1457 tonnes.

Spot pepper gained 62 rupees to 21435.3 rupees per 100 kg in Kochi market.