Philippine DTI: no price cap on cement for now

The Philippine Department of Trade and Industry (DTI) has rejected the call for a price cap on local cement at present, but it may take action when prevailing market prices reach PHP240 (US$4.64)/bag.

“There is no need for now. I’ll look into the numbers,” Trade Secretary, Ramon Lopez, told reporters Monday when asked if the government would intervene in the market and set a price cap for cement. “Let’s say prevalent price is PHP240, then, we can come in and put it back to PHP220-225,” he said.  Based on the DTI’s monitoring of cement prices, cement is currently being sold in the PHP220-225/bag range, he added.

However, Laban Konsyumer Inc President, Victorio Mario Dimagiba, claimed that some outlets in the National Capital Region are selling cement up to PHP240/bag.