Pepper ended weak as new crop arrivals weighed on prices. Export demand also remained weak along with poor domestic off take which further hurt sentiment. Arrivals are already delayed this year and even the harvest from Vietnam which comes in the month of march is expected to be delayed this year. Tight global supply situation may push the prices to positive side. Spot pepper fell by over 38 rupees to end at 13,524.1 rupees per 100 kg in Kochi. February delivery dropped Rs 111 and settled at Rs 13328/quintal. The contract touched the intraday high of Rs 13500/quintal while low of Rs 13240/quintal. Now support for the pepper is seen at 13212 and below could see a test of 13096. Resistance is now likely to be seen at 13472, a move above could see prices testing 13616.

Trading Ideas:

Pepper trading range is 13000-13600.

Pepper ended weak as new crop arrivals weighed on prices

Resistance for the pepper is at 13470 and support is at 13210.

Harvest from Vietnam which comes in the month of March is expected to be delayed

Spot pepper fell by over 38 rupees to end at 13,524.1 rupees per 100 kg

SELL PEPPER FEB @ 13550-13600 SL 13710 TGT 13500-13420-13340.NCDEX