Pepper September delivery dropped Rs 349 and settled at Rs 19910/quintal weighed down by subdued export orders, as Indian produce is quoted at a premium to other origins. Absence of demand is putting pressure on the prices. Other origins are offering at lower prices. Spot pepper gained 271.25 rupees to 20169.35 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 20354/quintal while low of Rs 19811/quintal. Now support for the pepper is seen at 19696 and below could see a test of 19482. Resistance is now likely to be seen at 20239, a move above could see prices testing 20568.

Trading Ideas:

Pepper trading range is 19477-20563.

Pepper ended lower weighed down by subdued export orders

Support for the pepper is seen at 19700 and resistance is at 20080.

NCDEX accredited warehouses pepper stocks rose 20 tonnes to 4288 tonnes.

Spot pepper gained 271.25 rupees to 20169.35 rupees per 100 kg in Kochi market.