Fiji’s Commerce Commission announced a decrease of 5.89 per cent in cement prices yesterday.
The prices of bagged and bulk cement has decreased to FJD233.91/t (US$233.91) and $212.65 per tonne in January this year.
It will now cost FJD220.12/t of bagged cement and FJD200.12/t of bulk cement.
"The decrease in the prices if a result of the commission’s independent analysis of the submission by the Fiji Industries Limited," commission chief executive Bobby Maharaj said yesterday in a statement.
"The decrease in prices is a result of a decrease in the cost of imported clinker, one of the major raw materials for cement production.
"The commission has noted and verified that the cost of clinker per unit has reduced to FJD102 (US$55) from FJD121(US$65.13)."
Mr Maharaj said this was 15.5 per cent decrease in the price of imported clinker. The commission also considered the rise in other production cost such as the revised tariff rates and the landed unit cost of slag (another raw material) when determining the new price.