Cement Prices Rise As MRP Is Removed 
Posted 8,November

By Chaveendra Dunuwille

In Local News

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After removing, the Maximum Retail Price (MRP) on cement on Saturday (6th November 2021), cement manufacturers have decided to increase the price of 50kg cement bags. 

At the same time, the government has allowed several companies to import 30,000 tons/600,000 bags of 50kg cement as a temporary measure to stem the shortage of cement. 

Siam City Cement Lanka & Tokyo Cement (Company) Lanka PLC increased their prices to LKR 1275 for 50kg bags of cement. Other companies had increased the price up to LKR 1375, but, according to the State Minister of Cooperative Services, Marketing Development & Consumer Protection Lasantha Alagiyawanna, these companies have agreed to reduce their price by LKR 100. 

The depreciation of the Sri Lankan Rupee and, as well as the shortage & delays in the supply chain have led to a lack of cement in the country. According to INSEE Cement Chief Executive Officer Gustavo Navaro, the domestic market is experiencing an artificial scarcity for the first time, created by importers refusing to release their stock to the market.