Andhra Pradesh prices drop, India
Cement prices have dropped by Rs10-15 a bag in Andhra Pradesh, thanks to subdued demand. Cement is sold at Rs275-295/bag while the price was between Rs280 and Rs300 during October-November, shows a survey of retail outlets here.
“The price has come down primarily due to dip in demand contrary to industry expectations of a surge in demand,” Mr SVS. Shetty, Chief Executive Officer, Anjani Portland Cement Ltd, told Business Line here on Thursday.
According to industry data, cement demand in State was down by 10-12 per cent compared with October-November last year. It is now in the range of 15-15.5 lakh tonnes a month. The demand from the State Government, which accounted for 20-25 per cent of supplies in the last few years has virtually dried up, say industry experts. Major programmes like the Jalayagnam (irrigation schemes) and Indiramma Housing scheme pushed by the Y.S. Rajasekhara Reddy Government are limping now, resulting in a drastic fall in cement uptake.