Saudi Arabia could soon lift its ban on cement exports following assurances from factories that the prices would be kept low, even as producers in the UAE said the impact could be minimal.
Local Saudi press yesterday quoted Eid Al Qahtani, Executive Director of the Saudi Exports Development Centre as saying the Saudi Government would soon lift the export ban on cement.
"The issue of lifting the export ban on cement was subject to the issue of price stability. Cement prices in the Kingdom have been stable for some time now and that is what will prompt the government in removing the export ban," said Al-Qahtani.
Abdullah Mohammed Al Sayah, President of UAE Cement Factories and Producers Group, yesterday told Emirates Business that an agreement has been reached between the UAE and Saudi producers that there would be no dumping of excess cement from Saudi into the UAE market.
"Everything will be based on the market situation. They will export to the UAE when there is a genuine demand. If local production in the UAE can meet the existing demand, I do not see any reason for concern," said Al Sayah. He refused to further elaborate on the issue. "We are in constant touch with the Saudi producers as well as the UAE Ministry of Economy on production availability and price issues."