Well, by this logic the game should cost $1000 in South America.
I think the logic is skewed for the following reason. The 'die hard' cricket game lovers are going to buy this game regardless of the price. However, the ones on the fence, either because they are not sure about this game in particular, or because they don't know much about cricket in general, are going to be turned off by the higher price, compared to all the other console games. If GTA V is going for $39.99 on Amazon, it is hard sell to buy a cricket game for almost double the price.
Anyway, I'm no business/marketing expert and you guys have probably done different pricing model simulations considering markets, regional sales etc. Hoping it works out for you guys.