(Trinidad Express) Expect to pay more for cement.
The price increase was disclosed by Trinidad Cement Ltd (TCL) whose customers can expect to pay around TT$5 more per bag.
The company stated: “TCL Premium Plus, which accounts for 95 per cent of local market share, will be adjusted by nine per cent, which is equal to a five cent increase per pound from $.53 to TT$.58 VAT inclusive. Ordinary Portland Cement (OPC), which is used by approximately five per cent of the market, will move by 15 per cent.” This means the average price (TT$60 for a bag of cement) will go up at least TT$5. Hardware owners and contractors have already been informed of the increase by TCL.
TCL stated: “These price movements have resulted from continual increases in major cost components over the past 18 months, but more so, over the past six months, when there has been a steady rise in the price of equipment spares, raw materials, freight rates and supplier services.”
It said the entire local construction industry was facing increased costing in building materials and the last time the company’s cement price was adjusted was on January 2, 2013. A commitment was made then to not make any changes for 12 months.