A bag of cement costs only P163 last week. Suddenly hardware stores increased it by P5 to P168. Yesterday, it rose again by another P5 to make it at P173.
This P10 price rise in matter of days is totally unjustifiable.
Cement prices are the highest in the country compared with those of our neighbors like Vietnam, Indonesia and China. No less than the World Bank has noted the stiff price of cement in the country.
I blame this on the three foreign giants that control the local cement industry – Holcim, La Farge and Cemex.
To protect us – consumers – from this monopolistic pricing, I believe it is now high time to allow importation of cement.