MUMBAI (Commodity Online): Pepper futures succeeded in getting some modest momentum on Wednesday at the NCDEX counter supported by fresh buying.

NCDEX pepper March futures gained Rs 83 to the session high of Rs 13174 and the counter now quoted at Rs 13114 per 100 kg. The open interest in the contract added 1.35 percent to 5,506 tonnes, indicting fresh buying.

Now support for the pepper is seen at 12973 and below could see a test of 12801. Resistance is now likely to be seen at 13264, a move above could see prices testing 13383.

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Pepper snapped a five-day losing streak on buying support at lower levels driven by lower carry forward stocks. Spot Pepper slipped 23 rupees to end at 13,233 rupees per 100 kg in Kochi.

Indian December pepper exports stood at 1,750 tonnes, down 32 percent on year. March delivery gained Rs 233 and settled at Rs 13145/quintal. The contract touched the intraday high of Rs 13211/quintal while low of Rs 12920/quintal.

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