Yemen price rises

Yemen price rises
Published: 15 February 2006

According to local sources the prices of cement have seen a drastic climb during the past weeks from YR600 to the latest rate of YR1000 (US$5.11) for a 50kg sack. Mr. Mohammed Yahya Shunaif deputy manager of the general establishment for cement was approached by the Yemen Times regarding this issue to which he replied saying: “the establishment has adopted a new mechanism for disseminating and monitoring selling of cement in the market. We will start activating this mechanism soon in the capital secretariat and the rest of governorates as a step in rectifying this price issue. Through this mechanism it is hoped that no monopoly of the material would take place and hence a standard price would be achieved”. Apparently this is a trend that took place in most of the neighboring countries like Saudi Arabia where the price witnessed an increase by 62 per cent and other Gulf countries as well, he added.