Mexican prices to rise

Mexican prices to rise
Published: 01 March 2004

Mexico’s two major cement makers Cemex and Apasco raised prices this week by 5 to 6 per cent, eliminating discounts from last year to compensate for higher costs, sources said.  At the start of 2003, the cement makers beefed up cement prices around 7 per cent, but demand was hit by the increase and the two companies had to apply discounts to distributors so sales were not affected.  "The increase was made on Feb 23," a Cemex executive who asked not to be identified told Reuters on Friday. "All we did was to eliminate the discounts to compensate for rising costs."  An Apasco distributor also on Friday confirmed the increase on the part of Cemex’s rival. Apasco representatives were not immediately available for comment.  Cemex said in its fourth-quarter report that on average its prices increased by 2 per cent in 2003. Apasco lifted prices 4 per cent in the same period.