Mozambique to introduce price controls

Mozambique to introduce price controls
Published: 11 February 2011

Mozambique’s government plans to impose price controls on cement produced by Cimentos de Mocambique, the largest cement factory in the country and a unit of Cimpor, state run Agencia de Informacao de Mocambique said.

The company sells a 50kg bag of cement for US$8, while resellers almost double the price on the local market, the Maputo-based news agency said, citing Steffen Kasa, chairman of the company’s executive committee.

Cimentos de Mocambique’s three cement plants produced 960,000t of cement in 2010, short of the country’s consumption if 1.1Mt, AIM said.