Egypt considers levy on cement exports

Egypt’s Ministry of Industry and Foreign Trade Eng Hatem Saleh has said that the ministry is considering imposing a levy on cement exports as a result of increases in cement prices on the local market.

In a statement released last Thursday by Egypt’s State Information Service, the Minister said that cement prices in the local market have increased from EGP420/t to EGP700/t, while there is a significant deficit in cement supply in the market which is also leading to increased prices.

The minister highlighted that the recent increase in energy prices for cement plants represents no more than EGP4-50/t and that hikes in cement prices are inconsistent with the increases in energy prices.

Saleh has stressed that the government is keen to make cement available to the market at affordable prices and for enough quantities to be available to up with demand momentum.

Earlier this week, CemNet news reported that the recent rise in Egyptian cement prices has prompted the country’s Consumer Protection Agency to file a complaint with the Protection of Competition (CPA) on price fixing allegations. The CPA claims that cement companies have tactically agreed to raise cement prices and has called on the government to intervene and fix cement prices.