Pepper September delivery dropped Rs 348 and settled at Rs 19436/quintal depressed by poor export demand due to higher price of Indian produce in the international market. "There is negligible export demand for Indian pepper. Indonesia and Brazil are offering lower. However, a tight supply position is supporting prices at lower levels. Spot pepper gained 26.3 rupees to 19873.35 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 19915/quintal while low of Rs 19385/quintal. Now support for the pepper is seen at 19242 and below could see a test of 19049. Resistance is now likely to be seen at 19772, a move above could see prices testing 20109.

Trading Ideas:

Pepper trading range is 19056-20116.

Pepper ended lower depressed by poor export demand

Support for the pepper is seen at 19300 and resistance is at 19600.

NCDEX accredited warehouses pepper stocks rose 20 tonnes to 4308 tonnes.

Spot pepper gained 26.3 rupees to 19873.35 rupees per 100 kg in Kochi market.