Carib Cement Price Increase


Caribbean Cement Company Limited has advised of an increase of 7 .5% in its prices effective February 1, 2010. This price adjustment has become necessary due to the increase in the company`s haulage and fuel costs.
Carib Cement informed that its unit cost of transporting cement had increase since the implementation of the Vehicle Weight Enforcement Programme in December 2009. Trucks which carried loads of 900 bags now have to carry 600 bags at the same cost, in keeping with the new regulations. The Vehicle Weight Enforcement Programme was designed to prevent damage to roadways, educe the recurring need and cost of road repairs and increase road safety. Carib Cement supported and facilitated the launch of this programme at its Rockfort plant because of the potential benefits to all Jamaica and despite the impact on its operations.
The Company added that the increase in the Special Consumption Tax on fuel has also caused its production costs to increase by at least 6%. These increases have left Carib Cement no choice but to adjust its prices. The last time the Company increased its prices was in August 2008.