Trinidad Cement Limited (TCL) has announced increased prices for its cement products effective December 20.
The company announced the increased prices in a letter, dated December 13 and addressed to industry partners and stakeholders. The price of Premium Plus Cement will go up by 15 per cent and Eco-cement by eight per cent.
The letter under the signature of TCL Manager Reshma Gooljar-Singh said the company can no longer maintain its prices, as input costs continue to rise. The main input costs cited by Gooljar-Singh are natural gas, imported spares and raw materials needed to manufacture quality cement.
In January TCL said it had no plans for any immediate or short-term price increases but the TCL letter to stakeholders was quick to point out that the “marginal”price increase took into account the interest of protecting the vulnerable construction sector.
TCL stated that it has been heavily investing in the improvement of its operational efficiencies to offset inflation and buffer the impact to the consumer and construction sector. However, news of the impending price increase is not going down well with hardware owners.
When Trinidad Newsday checked with hardware dealers, some questioned the timing of the increase – five days before Christmas Day and also in the midst of the pandemic, when many, including businesses and consumers, are struggling to make ends meet.