India lifts ban on cement exportsDecember 22nd, 2008 - 2:35 pm ICT by IANS
New Delhi, Dec 22 (IANS) With a significant increase in both the production and off-take of cement in India, the government has lifted the export ban on the commodity with immediate effect, a senior commerce ministry official said Monday.”Since prices (of cement) have stabilised, it was no longer felt necessary to continue with the export ban,” the official said. “The necessary notification has been issued accordingly (in the official gazette).”
The government had banned the commodity’s export in April, following spiralling prices and complaints from construction and realty industries that they were unable to get adequate supplies at competitive prices.
The government lifted the ban after data with the Cement Manufacturers Association (CMA) showed that during November, production was 14.34 million tonnes, up 9.05 percent over 13.15 million tonnes in the like month of 2007.
Cement despatches, too, were higher by 11.17 percent at 14.43 million tonnes, against 12.98 million tonnes in November 2007.
The country had an installed capacity of 198.30 million tonnes at the beginning of the current fiscal. Taking into account capacity additions and new projects, the cement capacity has now gone up to 206.46 million tonnes.