Drop in cement prices
14 September, 2023, 6:00 pm
Fijian consumers should expect a decrease in Pacific Cement retail prices in coming weeks.
The Fijian Competition and Consumer Commission (FCCC) has approved Pacific Cement Pte Ltd ex-factory prices for its General-Purpose Bulk and General Blended Bag Cement.
The new ex-factory price of a 40kg General Blended Bag Cement for Pacific Cement will be $12.83 VEP, decreasing by $2.35 VEP per bag of cement effective September 8, 2023.
This reportedly comes after a comprehensive review that was undertaken following the reduction in ex-factory cement prices that was announced on May 10, 2023.
Considering Pacific Cement Pte Ltd’s submission and their provision of their capital expenditure plan, the FCCC also noted decreases in clinker prices.
Clinker is the major constituent of final cement product that the Cement Companies in Fiji use to manufacture General Blended Bag Cement and General-Purpose Bulk Cement for Fijian economy’s construction needs.
“Taking into consideration these factors, the FCCC has issued an Interim Authorisation to Pacific Cement Pte Ltd, authorising the new ex-factory wholesale price for General-Purpose Bulk and General Blended Bag Cement decreasing by 12.1 per cent and 15.48 per cent, respectively,” an FCCC media release said.
The FCCC will reportedly continue to monitor the performance of Pacific Cement on a monthly basis to assess their performance and cost structure.