Pepper October delivery dropped Rs 13 and settled at Rs 19497/quintal on poor supplies, lower stocks and diminishing stocks with major producing countries but lacklustre overseas demand weighed on sentiment. There are no fresh positive triggers in the pepper market. Lower supplies may support buying at lower levels but prices will not sustain at higher levels in absence of overseas demand. Spot pepper dropped -58.9 rupees to 19718.75 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 19645/quintal while low of Rs 19352/quintal. Now support for the pepper is seen at 19351 and below could see a test of 19205. Resistance is now likely to be seen at 19644, a move above could see prices testing 19791.

Trading Ideas:

Pepper trading range is 19205-19791.

Pepper ended lower on lacklustre overseas demand weighed despite of poor supplies

Support for the pepper is seen at 19350 and resistance is at 19650.

NCDEX accredited warehouses pepper stocks rose by 10 tonnes to 4325 tonnes.

Spot pepper dropped -58.9 rupees to 19718.75 rupees per 100 kg in Kochi market.