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Cement production falls 12% in June quarter as lockdowns impact demand: Icra
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India s cement production falls in April and May
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Icra cuts cement, road logistic growth outlook for FY22 due to second wave
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‘Pent-up demand to drive sales in Q2’
The second wave of COVID-19 has adversely impacted the domestic cement sales in the April-June quarter, reducing 25% on a quarter-on-quarter basis but pent-up demand is expected to push up volumes starting in the July-September quarter, as per a report. In April, when the second wave was on the rise, domestic production was down 35% month-on-month in April and 4% lower in comparison with the pre-pandemic April 2019, said ratings agency ICRA.
Unlike last year, rural areas have also been impacted in the second wave. “The recovery in the rural regions is expected to be gradual,” it said. However, it added that pent-up demand is likely to drive offtake once lockdowns are relaxed.
Covid second wave to result in 25% reduced cement offtake in Q1FY22: ICRA
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