Indian cement firms raise prices again

Indian cement firms raise prices again
Published: 03 October 2007

Cement manufacturers have hiked cement prices in the North by 2 per cent
with effect from October 1. This is the second price hike since March this
year, when the cement industry promised the Union Commerce Minister Kamal
Nath that it would not hike prices for one year even if there was an
increase in the cost of inputs. The last hike was done in July when
companies increased prices by Rs 3-5 per 50 kg bag.
“Though, we are currently selling the previous stock at Rs 235 per 50 kg
bag, once these are exhausted, the new stocks will be sold at Rs 240 per
bag. All the companies have revised their selling prices from October 1,”
said a cement dealer in the capital.
However, the companies have not confirmed the hike. “The railways have
increased freight charges from October 1 and we expect prices to go up soon.
But nothing has been done so far,” said an executive of a leading company.
Last week, all cement companies had raised prices by Rs 3 per bag in the
West. Currently, the retail price per bag was ruling at Rs 260-265 in
Mumbai, said Sanjay Ladiwala, president, Bombay Cement Stockists & Dealers