Economy & Market
Cement prices drop due to lower demand
The monsoon of 2013 was the best monsoon the country has seen in the last 20 years. Though that was good news for agro sector, it had a cascading impact on demand for cement in the country. In December, prices of cement across India on an average were down by Rs 15 a bag. Western India saw the highest fall in prices. Prices in Pune declined the most by Rs 30 a bag, while in other markets, it decreased Rs 15-20 a bag.
Construction activity has remained weak throughout the country, especially in pockets where there is a ban on sand mining. The industry's operating profits too, were nearly half, compared to last year.