Pepper August delivery dropped Rs 47 and settled at Rs 21317/quintal as traders booked profits after the recent rally in prices on weak export demand. India's pepper exports fell 5 percent to 4,650 tonnes in April-June 2010 from the same period a year ago. Spot pepper climbed 430 rupees to end at 21,241 rupees per 100 kg in Kochi.  The contract touched the intraday high of Rs 21719/quintal while low of Rs 21220/quintal. Now support for the pepper is seen at 21118 and below could see a test of 20920. Resistance is now likely to be seen at 21617, a move above could see prices testing 21918.

Trading Ideas:

Pepper trading range is 20920-21918.

Pepper ended weak as traders booked profits after recent rally in prices

India's pepper exports fell 5 percent to 4,650 tonnes in April-June 2010

Support for the pepper is seen at 21120 and resistance is at 21440.

In spot pepper prices rose by 430 rupees to at 21241 rupees per 100 kg