Customers are already expressing concern over the Trinidad Cement Ltd (TCL) recent price increases, Baliram John, Group Marketing Manager, Bhagwansingh's Hardware, said yesterday.
"What we have found is that people are buying in smaller quantities, like three to five bags. Prospective home owners have expressed concerns about the impact it will have on their building because it is not necessarily cement alone. Obviously it will affect the price of concrete blocks, ready mix cement and things like that," John told the T&T Guardian yesterday.
On January 9, TCL introduced a 9.5 per cent increase in the price of Premium Plus cement. At that time, the company's marketing manager, Rodney Cowan, said there would only be a 0.5 per cent increase on construction projects.
Commenting on the impact of the price hike John said: "The regular buyer who buys smaller quantities continues to buy but they have expressed dissatisfaction. Those who want to build houses have expressed concerns about what the impact will be.
"Whenever there is an increase for a product like that there is alway shock in the market and people will hold back. It is not just about a $5 or $6 increase a bag but the other associated products that are also affected."
John said it is time that fore other players and cement brands in the market.
"As we know the TCL brand has had a monopoly on the market for a while. It is a product that people will have to buy although they may protest but if there is an alternative source I think people will consider it. At one stage in the past we had some imported cement," he said.
Trade Minister Vasant Bharath said last week that he was exploring the possibility of cuting the duty on imports of cement so that consumers could have access to cheaper alternatives. He also spoke about a plan to help TCL cut its costs of production.
The minister said the cement price-hike could hamper the government's planned projects such as the Point Fortin Highway, Rivulet Road and the Cumuto to Sangre Grande Highway.
