Pepper ended weak in choppy trade as lack of overseas demand weighed on sentiment. Exports are minimal because of the parity situation and there are reports global production this year will be higher. The International Pepper Community, an inter-governmental organisation of pepper producing countries, projects global pepper production to increase by 3 percent in 2010 to 290,742 tonnes from 281,974 tonnes last year. December delivery dropped Rs 66 and settled at Rs 14300/quintal. The contract touched the intraday high of Rs 14537/quintal while low of Rs 14050/quintal.

Now support for the pepper is seen at 14054 and below could see a test of 13809. Resistance is now likely to be seen at 14541, a move above could see prices testing
14783.

Trading Ideas:

PEPPER TRADING RANGE IS 14000-14600.

PEPPER ENDED WEAK DUE TO LACK OF OVERSEAS DEMAND

BUY PEPPER DEC ABV 14356 SL 14260 TGT 14412-14490-14565-14640. NCDEX

PEPPER IS GETTING SUPPORT AT 14180 AND RESIST IS AT 14460.

SPOT PEPPER FELL BY OVER 321 RUPEES TO END AT 14537.35 RUPEES PER 100 KG