Cement supply in the Bicol region sufficient — DTI

By Mar S. Arguelles

LEGAZPI CITY, Jan. 11 — The Department of Trade and Industry (DTI) over the weekend said there is an adequate supply of cement in the Bicol region to last for two weeks, belying reports of a tight supply of the prime construction product in the market.

The DTI in Bicol after conducting extensive market monitoring said the inventory level as of last January 7 indicates that there are 350,000 bags of cement available in the market. The stocks would last for 10 to 14 days.

Rodrigo Aguilar, DTI assistant director and concurrent Albay provincial director said “our monitoring found out that the region had sufficient supply of cement unlike in Metro Manila where a tight supply of cement products prevail.”

Aguilar said during his market visits, prices of a 40 kilogram cement products range from P210 per bag to P235 per bag, depending on the type of the product.

He said the Apo Portland type sells at P235 per bag, while type 1P Mindanao and Mayon brands – P215; type P brands Apo, Mindano and Mayon are sold at P210 per bag.

Albay province is a seat of Goodfound Cement Corporation, a Taiwanese owned cement manufacturing firm, that produces a local grade of cement product named Mayon Cement.

The firm produces 30,000 bags of cement per day and 80 to 90 percent of the total production is sold in the six provinces of Bicol, Aguilar said.

Aside from the local Mayon Cement, other cement products available in the market are the Apo and Mindanao cement brands.

As this developed, the DTI warned retailers and manufacturers against hoarding and price manipulation saying that the agency is closely checking incidents of this kind.

Aguilar said the DTI would impose administrative and legal sanctions on violators, the worst case scenario would be the imposition of price control on cement should incidence of lack of supply and high prices exists.

The DTI would impose strict measures to avert this kind of situation explaining that if price control will be implemented, it will be done at three levels – manufacturers, distributors and retailers.

Aguilar enjoins the buying public to report to the DTI any cement hoarding and overpricing in the market. (PNA) DCT/LQ/MSA/cbd

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