Indian companies may rise prices by INR10/bag

Indian companies may rise prices by INR10/bag
Published: 24 January 2011

India’s cement companies may raise prices by INR10 per 50kg bag in the western part of the country, owing to a shortage of railway wagons, said a dealer Monday.

The hike will likely to take effect February 1, a dealer in Mumbai, who didn’t want to be identified, told Dow Jones Newswires.

"This is a seasonal shortage [of wagons] that impacts the supply of cement in most parts of the country at the same time," the dealer said.

Cement supply shortages are a common feature during the winter harvest season, when railway wagons are routed to transport food grains, impacting the bulk movement of cement and increasing prices of the building material.