Pepper December delivery gained Rs 256 and settled at Rs 21750/quintal on thin supplies and diminishing stocks with key producing countries. As per the latest updates from Spices Board of India, Pepper exports from India during the period April-August 2010 slipped 5 percent in volume terms to 7,600 tonnes and surged 6 percent in value terms to Rs 12,906.00 lakh. Black Pepper prices in the international market of all the major origins are all quoting in the range of $4,900-$5,000/tonne. Prices will also take cues from the Indian pepper production projections. Spot pepper dropped 0 rupees to 21178.55 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs
21864/quintal while low of Rs 21352/quintal. Now support for the pepper is seen at 21447 and below could see a test of 21143. Resistance is now likely to be seen at 21959, a move above could see prices testing 22167.

Trading Ideas:

Pepper trading range is 21143-22167.

Pepper ended higher on thin supplies and diminishing stocks

Pepper looks to test support at 21600 and resistance is seen at 21900.

NCDEX accredited warehouses pepper stocks fell 1002 tonnes to 2882 tonnes.

Spot pepper dropped 0 rupees to 21178.55 rupees per 100 kg in Kochi market.