MANILA – A neighborhood cement producer forecasts the trade will file a progress this yr following a 10-percent decline in 2020.
“We strongly consider that we are going to get again to 2019 stage in 2021. It means 12-percent progress in comparison with 2020,” he mentioned in a press convention Tuesday.
Francis mentioned the trade is anticipated to promote 35 million tons of cement this yr.
“The primary driver is the bagged (cement) section, which is the person home builders, as the actual spine of the demand. The segments which are lagging behind are the infrastructure and the non-residential,” he added.
In the meantime, Francis has welcomed the investigation initiated by the Division of Commerce and Trade (DTI) on the alleged dumping of cement from Vietnam.
“Many of the cement that’s imported from Vietnam is dumped to the Philippines. It’s bought at a worth a lot decrease than the home cement costs in Vietnam. The Vietnamese cement trade is sponsored additionally by the federal government,” he mentioned.
He mentioned the inflow of imported cement has injured the native trade.
“Imported cement remains to be creating quite a lot of damage to the native trade. As of at this time, imported cement is capturing roughly 50 p.c of the full market within the Philippine. Whereas it is a large concern to us, it is a large concern to everyone. As a result of everyone knows that whenever you purchase native, you inject 3 times extra (in)to the native economic system quite than you purchase from imported cement,” Francis mentioned. (PNA)