Cement price increases today
KINGSTON, Jamaica — The price of cement increases today.
A bag of cement will now cost an average of 16. 5 per cent more, after Caribbean Cement last month said it would increase prices to meet its debt payments.
“While we have sought and obtained a suspension of our debt servicing, this moratorium has come to an end and the enterprise must begin servicing its debt from the end of this month,” Carib Cement’s general manager Anthony Haynes said in a statement issued to the Jamaica Stock Exchange on Christmas Eve.
“In the current environment we need to adjust our prices if we are to generate the required cash flows to meet our next debt payment, at the end of March 2013.”
Packaged Carib Plus cement will be increased by 15.4 per cent to sell at $755 per bag.
The company had also implemented a 9.2 per cent price increase in June 2012.
