Paraguayan INC losses

Paraguayan INC losses
Published: 22 June 2004

The losses of Paraguayan state-owned cement company Industria Nacional de Cemento (INC) due to cement imports fro Brazil at dumping prices, are some US$60m at present, Paraguayan economist Jorge Boveda, said on June 20, 2004.  These losses are related to the period between 1995 and 2004. Price dumping is an illegal practice according to the World Trade Organisation (WTO), Boveda added.  INC accused cement importer Iguazu Cemento, controlled by the Brazilian companies Companhia de Cimento Portland Itau and Camargo Correa Cimento, of dumping practices and called for protection of local industry. Iguazu Cemento sells cement in Paraguay at a price of 19,500 Paraguayan guaranis (US$3.31) per bag of 50 kg, while the price in Brazil is some 40,000 guaranis (US$6.79) per bag ­ he claimed.