Pepper September delivery dropped Rs 111 and settled at Rs 19785/quintal  on weakening export demand, as Indian produce is quoted higher than other origins though a squeeze in supplies restricted the downside. Absence of export inquiries are putting pressure on the prices but demand may improve in the coming days ahead of festivals. Spot pepper dropped -322.3 rupees to 19847.05 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 20025/quintal while low of Rs 19612/quintal. Now support for the pepper is seen at 19590 and below could see a test of 19394. Resistance is now likely to be seen at 20003, a move above could see prices testing 20220.

Trading Ideas:

Pepper trading range is 19394-20220.

Pepper ended lower on weakening export demand

Support for the pepper is seen at 19840 and resistance is at 19600.

Absence of export inquiries are putting pressure on the prices

SELL PEPPER SEPT @ 20000-20070 SL ABV 20215 TGT 19915-19840-19740.NCDEX

Spot pepper dropped -322.3 rupees to 19847.05 rupees per 100 kg in Kochi market.