Imports will counter a 15% cement price hike

• While the Government can't indicate what the price of cement on the local market would be, Trade Minister Paula Gopee-Scoon yesterday said she believes the increased competition, which will be facilitated from January 2022, would keep prices in check. 
• She was responding to a question in the Senate yesterday from Opposition Senator Wade Mark on what would be the effect on the ultimate price, given Government's measures designed to counter the 15 per cent price increase by Trinidad Cement Ltd (TCL). Citing rising input costs, TCL, on Monday announced that it would increase the ex-factory cost of cement by 15 per cent on Monday, December 20, 2021. 
• Asked by Mark whether Government would seek to incentivize the entry of other players into the local cement market, Gopee-Scoon said the Government would encourage any players to get involved in the manufacture of local cement and would welcome any new entrants into the manufacturing of cement. However, Gopee-Scoon highlighted that there is currently a quota and an import licensing regime in T&T which came into effect in January 2021, under which five companies were registered.

 (Source: Trinidad Express Newspapers)