Cameroon minister accuses cement producers of price-fixing

Cameroon minister accuses cement producers of price-fixing
13 December 2021

In a correspondence sent to the managing directors of various cement producing firms on 9 December 2021, Minister of Commerce, Luc Magloire Mbarga Atangana, denounced an illegal agreement to increase the prices of the products.

"It has come to my attention, through written communications of which I have copies, that ypu unnanmously and unilaterally decidd to increase your sales prices  by XAF500 (US$0.86) and 300 per cent depending on the type of cement," the government official wrote.

This is not the first time the Minister of Commerce is disproving a price increase suggested by cement producers to make up for their rising production costs, which are caused by a generalised hike in the price of raw materials in international markets and soaring shipping costs. In late June 2021, following a similar attempt by Cimencam’s CEO, the government official threatened to close the company’s facilities.

Published under Cement News