Pepper September delivery dropped Rs 7 and settled at Rs 19440/quintal as high arrivals, low local demand with sluggish overseas demand as lower-priced Indonesian produce discouraged exports and weigh on prices. In Kochi market, spot pepper fell 480 rupees to 19,439 rupees per 100 kg. India's pepper exports fell 5 percent to 4,650 tonnes in April-June 2010 from the same period a year ago. The contract touched the intraday high of Rs 19580/quintal while low of Rs 19150/quintal. Now support for the pepper is seen at 19200 and below could see a test of 18960. Resistance is now likely to be seen at 19630, a move above could see prices testing 19820.

Trading Ideas:

Pepper trading range is 18960-19820.

Pepper ended weak as high arrivals and low local demand weighed on prices

Support for the pepper is seen at 19200 and resistance is at 19630.

NCDEX accredited warehouses pepper stocks rose by 7 tonnes to 4282 tonnes.

In spot pepper prices fell by 480 rupees to at 19439 rupees per 100 kg