Cement Price Hike: If you are also planning to build a house, then you are going to get a big setback. After steel, now the price of cement may increase by Rs 25 to 50 per bag. Due to the Russia-Ukraine crisis, companies are now preparing to pass on the burden of increasing costs on the customers. With the increase in the price of cement, the cost of building a house will increase.
Price can reach Rs 435 per bag
Rating agency Crisil said that in the last one year, the price of cement has increased to Rs 390 per bag. Now its price may increase by Rs 25 to 50 per sack and the prices can reach Rs 435.
freight charges also increased
It was said on behalf of Crisil that in March, crude oil had crossed $ 115 per barrel. On the other hand, the rate of coal has also increased. The demand for cement has increased due to the ban on coal export from Indonesia. The increase in the cost of electricity and fuel has also led to an increase in freight charges. Let us tell you that 50 percent of cement is transported through roads only.
Increase in price will decrease demand
H Gandhi, director, Crisil Research, says that in the first six months of the financial year 2021-22, the demand for cement grew by 20 percent on an annual basis. But in the second half, due to unseasonal rains and non-availability of laborers, the demand decreased.