Pepper December delivery gained Rs 534 and settled at Rs 22275/quintal on dwindling supplies and lower availability with major producing countries. Strong demand is witnessed in the local markets from the north Indian buyers and local stockiest ahead of the winter season. Bullish global market on tight situation amid strong stockiest buying at the local markets supported the bullish movement. Spot pepper gained 314.75 rupees to 21493.3 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 22350/quintal while low of Rs 21555/quintal. Now support for the pepper is seen at 21770 and below could see a test of 21265. Resistance is now likely to be seen at
22565, a move above could see prices testing 22855.

Trading Ideas:

Pepper trading range is 21246-22836.

Pepper ended higher on dwindling supplies and diminishing stocks

Pepper looks to test support at 22100 and resistance is seen at 22420.

NCDEX accredited warehouses pepper stocks fell 490 tonnes to 2392 tonnes.

Spot pepper gained 314.75 rupees to 21493.3 rupees per 100 kg in Kochi market.