Caricement Antigua Ltd is considering a slight price increase on the back of rising production costs, in a move that follows two other hikes announced in the Caribbean this year.
Antonio Garrido who heads the company’s Crabbs operations, told local press: “We are talking about between 50 to 75 cents per bag. He said the increase would be merely “symbolic” taking into account the increased cost at the production level.
“The cost of cement has gone up for us by US $15 to $20 per metric tonne,” Garrido told Observer Media, adding that the company has been subsidising recent increases.
It could be several weeks before any increase is announced, a decision that would have to be made by the company’s head office in the Dominican Republic, according to Garrido. Caricement is the sole supplier on the islands of Antigua and Barbuda.
The announcement follows a nine per cent increase in Trinidad and Tobago by Trinidad Cement Ltd and a 16 per cent increase in Jamaica by Caribbean Cement – both also announced this month.