Pepper futures failed to hold on to their early gains due to profit booking. However, the overall tight supply and steady demand in spot markets may help the black spice recover in coming session. Indian farmers and stockiest were holding on the stock as they had expected further rise in price. The spot pepper stable at Rs 205 per kg for the Garbled Pepper in the Kochi market. Demand in the Kochi spot market was steady around 40 mt, while supply was 20 mt. India Apr-Jun pepper export 4,650 mt, down 5% on year on year basis.