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Philippine DTI: no price cap on cement for now

01 May 2019, Published under Cement News

The Philippine Department of Trade and Industry (DTI) has rejected the call for a price cap on local cement at present, but it may take action when prevailing market prices reach PHP240 (US$4.64)/bag. “There is no need for now. I’ll look into the numbers,” Trade Secretary, Ramon Lopez, told reporters Monday when asked if the government would intervene in the market and set a price cap for cement. “Let’s say prevalent price is PHP240, then, we can come in and put it back to PHP220-225,” he ...