Holcim holds price increase

MANILA, Philippines - Holcim Philippines announced they will not be increasing their price in Metro Manila until the end of March in order to help people who were affected by the typhoons which hit the country late last year.

In a telephone interview, Holcim vice president Ed Sahagun said that they will maintain their prices in Metro Manila until the end of the first quarter. He said that they will review the possibility of raising the price by March.

Holcim has already increased the price of cement in Northern Luzon and Mindanao by five percent. He said that they decided to do a selective increase because they would like to help the people who were affected by the typhoons.

Likewise, Sahagun explained that the increase in the price of cement in selected areas was because of the increase in power costs. Meralco has already advised that power rates may go up this month.

Sahagun refused to say by how much the possible price increase will be, saying only that it is yet to be determined.

Earlier, the Department of Trade and Industry (DTI) said Cemex Philippines decided to hold off their planned five percent increase in the price of cement because they are heeding the call of the government to try to mitigate any price adjustment.

However, Lafarge Cement Services Inc increased their cement prices by P2 to P3 last December.

The price increases came at the heels of a slight cement shortage last December when cement prices went to P270 per bag in some areas. The suggested retail price (SRP) for cement is between P205 and P210 per bag.