 Cement prices hiked by Rs 5-15/bagPublished on Fri, Nov 27, 2009 at 11:19 | Source : Moneycontrol.com Updated at Fri, Nov 27, 2009 at 14:12 4619 Investors following Binani Ind. Share this News with them.
Confirming the news, Sanjay Ladiwala, President of the Cement Manufacturers Association said "There have been price hikes in the southern and the western regions, not big though considering what had come off in the recent past months but yes a start for the price hikes. North will soon follow suit." Commenting on the reasoning behind the move, Vinod Juneja, Managing Director of Binani Group of Industries said this pricing uptick was due to logistical issues and wagon unavailability. "This is the peak season in the North-there is a huge demand bump due to the Commonwealth Games. Thus the rise in prices is bound to happen." Voicing a similar opinion, Ladiwala said, "The government has given priority for allotment of railway wagons to food grains and fertilizers. So there are a lot of rakes that were actually to be allotted to the movement of cement regularly but have been reduced and been transferred to those categories which are getting much more priority now. Therefore there is a severe dearth of availability of railway wagons and transportations to markets is getting very difficult and basically a logistical problem."
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