Cement producers in India are to hike prices by Rs5 per 50kg bag across the country in a couple of weeks said dealers in Mumbai and Gujarat. This comes on the back of improved demand as well as increasing sales. The proposed price hike is in addition to the Rs2 per bag increase in eastern India from February 1.
While mid-sized companies, like Binani Cement, JK Lakshmi, Shree Cement, have sent feelers to the dealers on an imminent price hike, major players, such as ACC, Ambuja Cements, Grasim Industries, are contemplating the idea.
At present, cement prices are hovering in the Rs 230-240 per bag range in Maharashtra, whereas it’s priced at Rs 250 per bag in South and Rs 235 per bag in North. In Gujarat, a 50kg bag costs around Rs 200.