Pepper September delivery gained Rs 78 and settled at Rs 19413/quintal supported by pick up in spot demand against restricted supplies. Estimates of lower global output also influenced pepper prices. Meanwhile, Vietnam, the world's largest producer and exporter of spices is expected to produce 100,000 tonnes of black pepper in 2010, down 5 per cent, year on year. In Kochi, spot pepper inched down 58.35 rupees to 19,847.20 rupees per 100 kg. The contract touched the intraday high of Rs 19450/quintal while low of Rs 19250/quintal. Now support for the pepper is seen at 19292 and below could see a test of 19171. Resistance is now likely to be seen at 19492, a move above could see prices testing 19571.

Trading Ideas:

Pepper trading range is 19171-19571.

Pepper ended positive supported by pick up in spot demand

Support for the pepper is seen at 19290 and resistance is at 19490.

NCDEX accredited warehouses pepper stocks remained at 4279 tonnes.

In spot pepper prices fell by 120 rupees to at 19456 rupees per 100 kg