Pepper October delivery gained Rs 51 and settled at Rs 18914/quintal on dwindling stocks and lower supplies but weak export demand weighed. Only some short-covering is seen supporting prices. Any sharp upside movement is expected only if overseas demand improves. Hopes of higher pepper production due to favourable monsoon also weighed on sentiment. Kerala is India's leading pepper producing state, contributing around 96 percent of total production, followed by Karnataka. Spot pepper gained 32.15 rupees to 19217.85 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 19016/quintal while low of Rs 18690/quintal. Now support for the pepper is seen at 18731 and below could see a test of 18547. Resistance is now likely to be seen at 19057, a move above could see prices testing 19199.

Trading Ideas:

Pepper trading range is 18547-19199.

Pepper ended positive on dwindling stocks and lower supplies

Pepper looks to test support at 18731 and resistance is seen at 19057.

Kerala is India's leading pepper producing state, contributing around 96% of total production

Spot pepper gained 32.15 rupees to 19217.85 rupees per 100 kg in Kochi market.