Weak shilling pushes up Tanzanian cement prices
Tanzania Portland Cement has raised retail prices to TZS14,000/50kg (US$8) bag from TZS13,500 (US$7.7) to cushion increased operational costs as a result of the weak shilling.
According to TPCC Sales and Marketing director Ekwabi Majiko, the factory price for the cement has risen by about TZS500, which means the product will now be sold on average of TZS14,000/t retail. “The operation costs have steadily increased due to shilling depreciation. Our increase in price aims to enhance efficiency and not a total compensation,” he said.
The local currency that has lost grounds against dollar by about 14 per cent since the beginning of this year, traded at around TZS1830 early this week despite measures by the central bank to save it from further fall.