MANILA, Philippines - The Department of Trade and Industry (DTI) is set to meet with cement maker Eagle Cement Corp. before the end of the month to discuss prices, an official said.
Trade undersecretary Zenaida Maglaya said Eagle Cement requested for the meeting after the department asked cement makers to explain why their selling prices are higher than last year’s and are above the suggested retail price.
“The meeting will be before the end of the month. It will be with me and somebody from the BOI (Board of Investments) because they are a BOI-registered firm,†she told reporters.
Last month, cement makers Eagle Cement, Holcim Philippines Inc., Lafarge Republic Inc., and Cemex Philippines Group of Companies were asked by the DTI to submit reports explaining for their higher prices.
BOI-listed, Eagle Cement, which has committed to sell at lower prices than those prevailing in the market, is selling cement at P220 per bag.
Holcim Philippines’ currently sells cement at P218 per bag, higher than the P195 per bag price in April last year.
Lafarge Republic’s Republic brand and Cemex Philippines’ Rizal brand are both sold at P220 per bag, up from P205 and P195 per bag, respectively, in April 2012.