Cement price goes up by 9.5%

The price of cement has gone up. A bag of 42.5 kilogramme of cement will now cost the average consumer roughly $55 following a 9.5 per cent increase that takes effect from today. In a statement issues yesterday, Trinidad Cement Ltd said the latest increase —the first in four years—comes after its July 2012 announcement  that a review of its prices would be conducted during the last quarter.

“The decision was therefore predicated on this analysis, which confirmed an increase in operating costs, specifically in the areas of energy, packaging and spares, for which TCL, as a price taker, has no control,” read the four-paragraph statement. “TCL’s most recent price adjustment was in August 2012, when the company rolled back its price by removing a temporary $13 surcharge which it was forced to place on the price of a 42.5kg bag during its industrial relations impasse.

“Earlier, in January of that year, a marginal increase of eight per cent applied to its Premium Plus brand, prior to which, the company maintained a stable pricing regime for almost four years.” Explaining the price hike, a Couva-based hardware owner yesterday said the VAT-inclusive price of cement hardwares get from TCL is now $49.23, and a bag of cement is likely to retail between $55 and $60.