Jordan increases cement prices

Jordan’s five factories increased the price of cement to JOD74/t (US$104) from JOD38 on Sunday, according to The Jordan Times. The price hike is intended to end the accumulative losses of the companies over the past few years resulting from a recession after the closure of the borders, says Yousef Shamali, secretary general, Ministry of Trade, Industry and Supply.

Cement exports had stopped following the closure, except for small amounts to the West Bank, and consequently the price fell from JOD93/t to JOD28/t, before settling at JOD35/t over the last four months.

"The reason behind the hike is a decision that was taken by the outgoing government in its last days to stop importing the material," said Zuhair Omari, president of the Jordan Housing Developers Association, to The Jordan Times, before adding that the former government said that the decision came to protect the national industry.

However, Mr Omari noted that the country only imported three per cent of its demand which helped maintain a balance in prices and increased competitiveness.