MANUFACTURERS have raised by P10 the price of cement for every 40-kilo bag.
Three cement firms, Cemex Corp, Lafarge Cement Corp. and Eagle Cement have advised distributors of the price hikes which took effect on Monday.
Before the hike, Cemex Corp.’s brand Rizal cement’s distributor price was at P198 per bag, Lafarge Cement Corp. for its Republic brand was at P197 per bag and Eagle Cement for its Eagle brand was at P193 per bag.
Eduardo Sahagun, CEO of Holcim Cement, said they will not increase prices but said that construction activity is heavy during the summer, and that prices fluctuate depending on the season.
The trade office has requested manufacturers to lower prices in view of plummeting fuel prices since last year.
Trade Undersecretary for Consumer Protection Victorio Mario A. Dimagiba said they have yet to receive notification of a price hike, as manufacturers are required to inform the trade office of any increase.
He said that its latest price monitoring report showed that retail prices of cement have gone down.
The National Price Coordinating Council is set to meet on Wednesday to discuss issues on commodity price and supply.
The robust activity in the construction sector this summer season is expected to trigger a spike in the demand, and consequently, in the price of cement.
Image credits: Nonie Reyes