Pepper November delivery gained Rs 143 and settled at Rs 21485/quintal on thin supplies and diminishing stocks with key producing countries though weak export demand limited the rise. Decline in the prices of the Indian produce may attract overseas demand. Spices Board of India, had told that he expected pepper exports to touch 22,000-25,000 tonnes by the end of 2010-11 as key producing countries have sold most of their crop.  Spot pepper dropped -26.15 rupees to 21165 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 21650/quintal while low of Rs 21025/quintal. Now support for the pepper is seen at 21123 and below could see a test of 20762. Resistance is now likely to be seen at 21748, a move above could see prices testing 22012.

Trading Ideas:

Pepper trading range is 20755-22005.

Pepper ended positive on thin supplies and diminishing stocks

Pepper looks to test support at 21340 and resistance is seen at 21620.

NCDEX accredited warehouses pepper stocks rose 1048 tonnes to 3884 tonnes.

Spot pepper dropped -26.15 rupees to 21165 rupees per 100 kg in Kochi market.