Pepper December delivery gained Rs 374 and settled at Rs 22120/quintal as some fresh buying has been witnessed that is helping the prices move higher. In India, the market was more dynamic locally particularly during the second half of the month, after witnessing a decline in price during the first half of the month. Malabar black continued to be the price leader, but could not influence global market direction as only small portion of Malabar black entered the international market. Major portion of India's crop is absorbed internally. Spot pepper gained 287.5 rupees to 21740.6 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 22135/quintal while low of Rs 21710/quintal. Now support for the pepper is seen at 21842 and below could see a test of 21563. Resistance is now likely to be seen at 22267, a move above could see prices testing 22413.

Trading Ideas:

Pepper trading range is 21545-22395.

Pepper ended higher as some fresh buying has been witnessed

Pepper looks to test support at 22000 and resistance is seen at 22260.

NCDEX accredited warehouses pepper stocks fell 63 tonnes to 2459 tonnes.

Spot pepper gained 287.5 rupees to 21740.6 rupees per 100 kg in Kochi market.