Philippines: cement shortage over, says DTI

Philippines: cement shortage over, says DTI
Published: 18 January 2010

There is no more shortage of cement but there are still reports that it is being sold above the suggested retail price of P205 to P210 per bag, the Department of Trade and Industry (DTI) said.

“So far supply is no longer a problem. Looks like cement is out  We don’t know where it came from but it is out and is in the market right now,” Trade Undersecretary Zenaida C. Maglaya said yesterday.

According to Maglaya, they called 29 retailers and dealers who were reported to have been selling cement above P210 per bag. Maglaya said that they have evidence against 27 of the 29. She explained that there were receipts showing that they sold above the SRP.

However, she said that they are getting reasons from dealers that they obtained the cement at higher prices. Maglaya said that the dealers should show receipts that they got the cement at a higher price.

Earlier, DTI warned that they will implement price control over cement in order to correct the price surge. It was reported that price of cement for some areas went up to as much as P270 when the suggested retail price (SRP) is only P205 to P210 per bag.