Philippine third-quarter cement sales surge

Philippine cement sales surged 18.6 per cent in the third quarter from a year ago, according to the latest data from the Cement Manufacturers Association of the Philippines (CeMAP).

Sales volumes during the July-September quarter reached 6.37Mt, up from 5.37Mt a year earlier on the back of strong construction activities by the private and public sectors.

These latest figures bring cumulative nine-month sales to 18.28Mt, up 13.6 per cent from 16.09Mt in 9M14.

CeMAP president Ernesto Ordoñez said the strong performance could be credited to sustained infrastructure spending and the uptrend in the property sector. Mr Ordoñez added that despite government’s underspending in the early part of the year, the quick disbursement of funds in subsequent quarters has enabled the government to proceed with priority projects.