Pepper yesterday dipped by -2.99% down at 28084 we can seen some more corrections as traders waited for dips before initiating fresh queries. Reports of lower production, firm International rates, improved domestic and export demand are expected to support the market sentiments. High arrivals of the crop in Vietnam have been there but a firm trend there is supporting the Indian rates. In Kochi, a key market in Kerala, pepper fell 340 rupees to end at 28,053 rupees per 100 kg. However, expected limited supplies because of almost stagnant production in the last two-three years and diminishing stocks to support prices at lower levels.In yesterday's trading session Pepper has touched the low of 28084 after opening at 28861, and finally settled at 28084. For today's session market is looking to take support at 27812, a break below could see a test of 27540 and where as resistance is now likely to be seen at 28628, a move above could see prices testing 29172.

Trading Ideas:

Pepper trading range is 27565-29197.

Pepper fell on profit-taking at higher levels amid subdued export demand

Pepper looks to test support at 27863 and resistance is seen at 28679.

Pepper exports in India for April- February period fell by 10 percent and reported at 16600 tonnes.

Spot pepper dropped -340 rupees to 28053.35 rupees per 100 kg in Kochi market.