Thursday, 15 April 2010 00:00
[ manilatimes.net ]
Cement sales grew by double-digits during the first two months of this year mainly because of infrastructure spending ahead of the May elections.
Ernesto Ordoñez, Cement Manufacturers’ Association of the Philippines (CeMAP) president, told reporters that end-February sales reached 2.5 million metric tons, up 16.7 percent year-on-year.
He said spending on mostly public infrastructure right before the elections boosted sales.
Last year, total sales volumes climbed by 11.2 percent year-on-year to 14.6 million tons because of the surge in demand, which was fueled by repairs done to structures damaged by the typhoons that ravaged the country in the fourth quarter.
Ordoñez said that sales had been flat in the past decade.
For the rest of 2010, the industry expects sales to grow between 4 percent and 6 percent. “There won’t be much growth later in the year, as by that time the elections have already passed and we also don’t expect any Ondoy-like occurrences,” Ordonez said.
He said cement prices have stabilized amid stiff competition among manufacturers.
Ben Arnold O. De Vera
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