Traders hope that the prices are unlikely go below the benhcmark Rs 19,500 per quintal level even as the long-end futures are ruling much lower now. Sources said that the market arrival during the week was nill leading to heavy fluctuation in prices.

While the spot pepper inched up to Rs 20,700 per quintal level by the week end up from the opening position of Rs 20,600 per quintal long-end futures suffered heavy to marginal losses and closed the week at lower levels. Sources see the long-end futures to rule low for the time being as the new crop of Indian pepper is expected to trickle in to the market from January next.

The arrival of new crops will continue to January-April period, which is also the highest trading and processing season.

"There is a general sentiment that the current physical stocks arelow and thus the stocks stocks will be held for maximum price since no other pepper in large volumes are available today", a trader said.