Pepper August delivery gained Rs 459 and settled at Rs 28531/quintal supported by short covering and some demand recovery after witnessing a sharp fall in previous session. Domestic demands from the North India too were supporting the market sentiments. Domestic demand from North India too supported the market sentiments. Firmness in International markets along with reports of lower production there too kept the Indian rates firm. Short term high volatility is expected to continue but further rise in export and festive season domestic demand could perk up prices further. Traders anticipate more rise in demand at these low levels that could support the price in the coming days. Spot pepper gained 27.1 rupees to 27693.75 rupees per 100 kg in Kochi market. The contract touched the intra day high of Rs 28915/quintal while low of Rs 28151/quintal. Now support for the pepper is seen at 28150 and below could see a test of 27768. Resistance is now likely to be seen at 28914, a move above could see prices testing 29296.            

Pepper trading range is 27768-29296.

Pepper gained supported by short covering and some demand recovery

Firmness in International markets along with reports of lower production there too kept Indian rates firm

NCDEX accredited warehouses pepper stocks rose by 24 tonnes to 4196 tonnes.

BUY PEPPER AUG ABV 28500 SL 28180 TGT 28740-28900-29150.NCDEX

Spot pepper gained 27.1 rupees to 27693.75 rupees per 100 kg in Kochi market.