From August 1, there will be an increase in the ex-factory price of cement because of rising costs which Claxton Bay producer Trinidad Cement Ltd said it can no longer absorb. New VAT exclusive ex-factory prices will be T$31.70 per 42.5 kg bag in Trinidad and T$36.35 per 42.5 kg bag in Tobago. The price of Ordinary Portland Bulk cement will now be T$683.98 per metric tonne (US$109.1)
It has been three years since the company’s last price change of 4.95 per cent in June of 2002. Prior to that, the company had held prices for three-and-a-half years despite the spiraling cost of inputs, TCL said in a statement. These included general inflation and increases in natural gas prices.
TCL said it hoped negotiations with the National Gas Company would have led to a reduction in natural gas but the company did not get the price cut. It was therefore left with no alternative but to implement a price adjustment, TCL said.
