Mumbai: Cement prices in certain parts of India are likely to go up by Rs3 per 50-kg bag due to high raw material and transportation costs, according to newspaper reports.
Cement prices will rise in Mumbai, Gujarat and southern India.
Oil prices have had an impact and the cost of transportation has gone up, but even after the hike, cement will continue to be cheaper than some other essential commodities, Sumit Banerjee, managing director, ACC Ltd informed the media.
Input cost pressure has eroded margins and there will be an increase of Rs3 per bag in the next few weeks, Binani Cement managing director, Vinod Juneja said.
Cement makers have raised prices by 4% in the last one year, with the last hike coming in about five months ago.