Honduras cement companies set to raise prices

Honduras cement companies set to raise prices
Published: 24 June 2011

Honduras’ Ministry of Industry and Commerce (SIC) has warned that it could decree freezing cement prices as local companies demand increases of 5 and 6 lempiras.

Minister Francisco Zelaya has criticized the proposed increase, stating that there is no justification for such an increase.

The previous week, the cement industry had requested increasing the price of a 42.5kg bag of cement by 5 and 6 lempiras.

"The costs do not justify the increases," Zelaya said, adding that before taking any action and industrial producers must engage in dialogue with the authorities. "If they do in a particular way (raising prices), we will have to talk to Congress and raise the need for a freeze" on prices.

Before the wave of increases, the president of the Honduran Council of Private Enterprise, Santiago Ruiz, said in recent days that producers do not have to ask anyone’s permission to raise prices, since in the country, a system of free market prevails.