Pepper October delivery settled at Rs 18761/quintal as supply squeeze in spot and dwindling stocks offset weak export demand. Brazil has lowered its offer price as it is the peak arrival season there. Vietnam is also offering cheaper than India. Spot pepper dropped -147.95 rupees to 18933.3 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 18874/quintal while low of Rs 18564/quintal. Now support for the pepper is seen at 18592 and below could see a test of 18423. Resistance is now likely to be seen at 18902, a move above could see prices testing 19043.

Trading Ideas:

Pepper trading range is 18423-19043.

Pepper ended flat as supply squeeze in spot and dwindling stocks offset weak export demand

Pepper looks to test support at 18592 and resistance is seen at 18902.

Brazil has lowered its offer price as it is the peak arrival season there.

Spot pepper dropped -147.95 rupees to 18933.3 rupees per 100 kg in Kochi market.