Pepper October delivery gained Rs 111 and settled at Rs 19550/quintal even as prices for Indian produce came down in the international market, sparking hopes of fresh export demand, as key producers faced dwindling supplies and thin stocks. The total exports of pepper Vietnam during the first eight months of the year were 94,000 tonnes of pepper worth 314 million USD. The volume in exports dipped slightly 2.90 percent and value surged 35.60 percent over the same period last year respectively. Vietnam output was estimated lower by 20 percent at 90,000 tonnes this year. Spot pepper gained 64.15 rupees to 19576.65 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 19670/quintal while low of Rs 19401/quintal. Now support for the pepper is seen at 19411 and below could see a test of 19271. Resistance is now likely to be seen at 19680, a move above could see prices testing 19809.

Trading Ideas:

Pepper trading range is 19271-19809.

Pepper ended higher due to dwindling supplies and thin stocks

Pepper looks to test support at 19411 and resistance is seen at 19680.

NCDEX accredited warehouses pepper stocks fell 146 tonnes to 4101 tonnes.

Spot pepper gained 64.15 rupees to 19576.65 rupees per 100 kg in Kochi market.