Thai Construction material makers warned against price increases

Thai Construction material makers warned against price increases
Published: 26 May 2004

Construction material manufacturers have been cautioned against any plans to raise prices in response to rising oil costs.

So far, the impact of rising oil prices on production costs of overall consumer products was relatively low, said Siripol Yodmuangcharoen, director-general of the Internal Trade Department at the Commerce Ministry.

The Siam Cement Group has no plans to increase prices as it could hurt demand growth, according to vice-president Kan Trakulhoon.

Producers of cement and building materials are among those most affected by mounting energy costs, which have increased by between 2 and 5 per cent.  Instead, he said, the group was steadily upgrading production technology and machinery to reduce consumption of energy, the cost of which has risen by about 5 percent this year.