Changes to Philippine prices

Changes to Philippine prices
Published: 29 March 2012

Tagged Under: Pricing Philippines 

Local cement producers, including global majors Cemex and Lafarge, have raised prices in the Philippines by PHP5/40kg bag due to rising fuel prices and the beginning of the peak construction season.

Trade and Industry undersecretary for consumer welfare Zenaida C Maglaya said that based on last Friday's Price Monitoring report, prices of two brands of cement ' Republic (Lafarge) and Rizal (Cemex) increased by PHP5 from PHP200 to PHP205/bag now.

However, the price of Holcim Philippines Inc. dropped PHP5 to PHP195 now from PHP200 per bag the previous month. In June last year, Holcim raised its prices by 6% in Luzon or PHP10/bag to PHP200/bag.

Local producers are hoping that the government will accelerate investments and the implementation of major infrastructure projects this year. Such projects as well as private sector investments in property, including housing and commercial construction, are expected to boost demand for construction materials, including cement.