Philippines sees 64% increase in cement imports for 1Q19

Philippines sees 64% increase in cement imports for 1Q19
23 May 2019

The domestic cement industry of the Philippines has reported a 64 per cent increase in imports during the first quarter of 2019. Data presented during the first public hearing conducted by the Tariff Commission on the cement import safeguard measure showed total cement imports of 1.74Mt from 1.06Mt in the 1Q18, according to The Manilla Bulletin.

Imports reportedly continued to rise despite the imposition of the provisional PHP8.40/bag (US$0.16/bag) safeguard duty imposed in February this year. Data also showed a 34.5Mta industry capacity from 20 plants, against local demand of 33Mt.

Demand is expected to rise by seven per cent, but the Cement Manufacturers Association of the Philippines reportedly stated that the growth can be accommodated by local manufacturers.

Meanwhile, Victorio Mario Dimagiba, president of Laban Konsyumer Inc, a consumer group, noted that retail prices of cement had raised PHP240/bag as a result of the collection of the import safeguard duty. Mr Dimagiba stated that the duty is required by local manufacturers to aid expansion projects, but is not a solution for the imports issue.

Published under Cement News