Cement Manufacturers Hint on Upcoming Price Hike Soon

KOCHI:
Cement prices in the country are to be increased considerably, according to South Indian Cement Manufactures Association. It is due to multiple reasons such as unavailability of pet coke and the uncontrolled increase in the price of imported coal. The estimated increase in production cost will be a minimum of Rs.60/- per bag.

According to Krishna Srivasthava, General Secretary, South Indian Cement Manufactures Association, last few months have witnessed an unprecedented increase in the cost of imported coal and the substitute Pet coke. Availability of Pet coke is also less. “Due to the shortage of vessels, high-priced coal and the unavailability of Pet coke results for a further increases in the price of Cement. Under these circumstances it is expected that cement production may be badly hit”, he said. Mr Srivashava who is also the director of Penna Cement, pointed out that a further rise in the fuel price will make things worse and it will be more difficult to forecast regarding production volumes and capacity utilization.