| GEO Business|
| Cotton prices pegged at historic high amid short supply|
| Updated at: 0725 PST, Thursday, April 22, 2010|
KARACHI: Local cotton prices remained pegged at their historic high of Rs.6300 per 40 kilogram here in local market on Thursday, Geo news reported.
Naseem Uthman, Chairman Karachi Cotton Broker Forum (KCBF) told Geo news ban on import from India has also left local market in negative zone.
Pakistan has so far imported a total of 10 lacks bales from India this year but the market is still in dire need of more 15 lachs bales of cotton, he said.