MUMBAI (Commodity Online): Pepper futures maintained to gain some momentum at the green territory on Tuesday as fresh buying by traders at the lower levels helped the spice to pare previous losses.

NCDEX pepper futures went up nearly Rs 100 to the session high of Rs 12750 and the open interest dipped more than one percent. The counter now quoted at Rs 12744 and the volume traded as of now stood at 502 tonnes.

Now support for the pepper is seen at 12553 and below could see a test of 12455. Resistance is now likely to be seen at 12806, a move above could see prices testing 12961.

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Pepper February delivery dropped Rs -147 and settled at Rs 12651/quintal on sluggish domestic demand and rising arrivals overall for this week market look to take more support as sentiment is down ahead of the arrival season.

Export demand is also not good and creating pressure on spot market where today Pepper fell by 228 rupees to end at 13,256 rupees per 100 kg in Kochi. India's pepper output in 2010 is expected around last year's levels, but prices are unlikely to fall sharply in coming months due to low carry-over stocks, pepper exports stood at 1,750 tonnes, down 32 percent on year, the spices board said.

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