Pepper ended down on continued selling pressure as export demand for pepper remains poor because of higher Indian prices. The fresh crop arrivals would also likely add pressure on the prices. Pepper prices quoted at $3,100/ton, Vietnam's at $2,400-$2,650/ton in global market. Spot pepper rose by over 18 rupees to end at 13607.25 rupees per 100 kg in Kochi.

February delivery dropped Rs 74 and settled at Rs 13400/quintal. The contract touched the intraday high of Rs 13517/quintal while low of Rs 13340/quintal. Now support for the pepper is seen at 13321 and below could see a test of 13242. Resistance is now likely to be seen at 13498, a move above could see prices testing 13596.

Trading Ideas:

Pepper trading range is 13100-13700.

Pepper ended down on continued selling pressure due to weak export demand

Resistance for the pepper is at 13490 and support is at 13280.

Spot pepper rose by over 18 rupees to end at 13607.25 rupees per 100 kg

BUY PEPPER FEB ABV 13500 SL 13420 TGT 13565-13640-13695-13740. NCDEX