Morocco sales recovery in sight?

Overall Moroccan cement sales proved disappointing through 2013, but industry body Association Professionnelle des Cimentiers (APC) is hopeful of an upturn this year. 

During the first 11 months of the year, cumulative cement sales declined by 6.52 per cent YoY, according to the latest APC data. Demand has been affected by credit constraints, the completion of some major public and private development projects, and a MAD15m cut to the state’s 2013 investment budget.

Cement sales fell in eight of the first 11 months of the year, with annual gains only seen in August, September and November. Indeed, November proved to be a particularly bright spot where a 29.7 per cent YoY increase could mark a key turning point for the sector.

According to APC forecasts, some of the negative factors that have recently been impacting the construction industry are likely to persist going forward,  however, cement demand growth is expected to be around four per cent in 2014.