Cement bag prices in Trinidad are set to increase by seven per cent from 17 February – almost a year to the day since it was last increased. The increase in the price of bulk cement takes effect on 5 March. The price hike was confirmed by a spokesperson from the country’s sole cement manufacturer, Trinidad Cement Ltd (TCL).
This means that cement prices will increase for a fifth time since December 2021 and the increase is expected to be from around TTD3.60 to TTD4 (US$0.53-0.59), according to Guardian Media’s calculations.
Regarding the cumulative increase in the price of cement, an industry source said, “If the seven per cent price increase in cement is across the two cements produced by TCL, the cumulative increase in price over the last 38 months is approximately Premium Plus 45 per cent and Eco cement 32 per cent.”
The company had then noted that due to the continuous inflation that affects the industry and other economic sectors, it had become necessary to adjust the price of cement by TTD3/bag. This took the price of the 42.5kg bag of Premium Plus cement to TTD57.38 (including VAT), while Eco Cement in 42.5kg bags rose to TTD52.88 (including VAT).
“This decision is unavoidable to cope with the escalating costs of natural gas, raw materials, spare parts, and other essential inputs, which have risen significantly in the past year. We have continued to invest in enhancing our efficiencies, upgrading our technology, and optimising our processes to minimise the environmental impact of our operations.
“However, these actions are insufficient to mitigate the negative effect of inflation on our business. Despite this price adjustment, Trinidad and Tobago still retains the most competitive price of cement in the Caricom region,” TCL had explained then.
