The Fiji Commerce Commission announces that with effect from Friday, December 10 the wholesale price of bagged and bulk cement will decrease by 5.89 per cent.
The decrease in prices is a result of commission’s independent analysis of a Fiji Industries Limited (FIL) submission.
The decrease in prices is the result of a decrease in the cost of imported clinker, one of the major raw materials for cement production.
The commission noted and verified that the cost of clinker per unit had reduced to US$55 from US$65.
This represents a 15.5 per cent decrease in the price of imported clinker.
The commission considered the rise in other production costs such as the revised tariff rates and the landed unit cost of Slag (raw material) to make the determination.
The commission after a careful analysis of the submission by FIL and its independent research and computations has authorised a price decrease of 5.89 per cent in the wholesale prices of bagged and bulk cement.
The new authorised prices by the commission are as follows:
Cement type or grade Cement Prices (VEP) Increase/(Decrease) Commission’s Authorized New Price
in ($/t) from current prices
GB Bag cement 233.91 (13.79) 220.12
GP Bulk cement 212.65 (12.53) 200.12