Cement prices to rise

Cement prices to rise
Published: 09 March 2005

In recent times, the Vietnam consumer price index (CPI) has seen sharp  increases in the first three months of the year. In the first quarter  of 2005, CPI may rise 3.5 per cent compared to the last quarter of  2004, according to the Ministry of Trade. The increasing demands for commodities, especially food and  foodstuffs during the traditional Lunar New Year Festival (Tet) was  the main cause leading to an increase of one per cent in CPI in January  2005 against December of 2004. Food and foodstuff soared 1.7 per cent,  the highest rate among the 10 item groups, while others only  registered a slight increase of one per cent. It is estimated that there will be a sharp increase in the  consumption of cement in the first four months of 2005. Currently,  many countries in the region have to focus on overcoming the effects  and damage from the recent tsunami and earthquake. Therefore, the  demand for cement for construction works will increase sharply in  South and Southeast Asian nations. Accordingly, the price of cement on  the domestic market is expected to rise in the next few months (local Vietnam news report).