The Confederation of Real Estate Developers Associations of India (CREDAI) has reportedly alleged that the cement manufacturers are acting in concert by unilaterally raising prices by 20-40% at the time when the demand for the cement is low. CREDAI has alleged that the cost of raw material used in manufacturing cement had come down from January to September, 2015 but the cement companies never passed on this benefit to the consumers. Instead, they seemed to be working together in controlling supply and prices. Despite low demand, prices of cement have increased by 20-40 per cent in major cities across India in the past couple of months.
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