Cement prices in Kenya may fall as much as 10 per cent this year because of increased competition, Business Daily reported, citing the heads of two domestic producers of the building material.
In December, wholesale prices for a 50kg bag of cement dropped to KES600 (US$7.25) from KES60 shillings previously, the Nairobi-based newspaper said. A further decline may reduce cement companies’ profits, it said, citing East African Portland Cement Co. Chief Executive Officer Kephar Tande and Athi River Mining Ltd. (ARML) Managing Director Pradeep Paunrana.
