India prices down in south and west but up in north, east

India prices down in south and west but up in north, east
Published: 17 August 2009

Indian makers have reduced the price of cement by INR5-8 a bag in the southern and western markets, but have increased the price by INR5-10 per bag in the northen and eastern parts of the country.

"Since last week, cement makers have lowered the price by INR5-8 per bag in south and west, but hiked the price by INR5-10 per bag in north and east," a top industry official said.

"Demand and supply determine the price of a commodity.

This is basically the reason why prices went up in north and fell in south," he said.

The official said that sales were down in south and west because of monsoon, while not-so-good monsoon helped picking up sales in the rest of the country.

Major cement makers, however, declined to comment on the price movement.

ACC Ltd, a part of the Holcim Group, admitted that the price was reduced by Rs 3-5 per bag in the southern market earlier this month, but there were no "significant" changes in other markets.