Philippine 1Q cement demand up 15.7%
Demand for cement went up by 15.7 per cent in the first quarter as a result of election-related spending and higher construction activity as a result of the destruction brought by typhoons Pepeng and Ondoy.
Cement Manufacturers Association of the Philippines (CEMAP) president Ernesto Ordoñez said that demand for cement went up because of election-related spending and a spill-over from 2009 last quarter of 2009 when demand surged after the destruction of the twin typhoons.
In 2008, demand for cement grew by 1.6 percent while demand in 2009 grew 10 per cent.
However, Ordoñez said that demand will go down for the rest of the year because election spending is over. Full year growth target for cement demand is five to six percent.
Published under Cement News
