Contractors in Trinidad are reportedly paying 19-21% more for cement after local producer Trinidad Cement Ltd (TCL) increased prices again.
The Trinidad Express newspaper reports that a May 2 TCL circular to contractors outlined the price increases on all types of cement.
It is a move that contractors say came as a shock to a construction industry that is already reeling from two price hikes in the past four months.
Executive chairman of the Coosal Group of Companies Sieunarine Coosal In a telephone interview told the Trinidad Express that the increase will affect the entire construction industry.
On January 1, TCL upped prices on its Premium Plus and Portland brands by between eight and 12 per cent.
The company said it was the first time it had adjusted prices in four years.
Mr.Coosal said in March, as the company was affected by strike action at its Claxton Bay and Mayo facilities, the price of bulk cement was increased by 40 per cent.
The latest price adjustments mean that contractors who purchase cement in bulk quantities are paying as much as $220 more for a tonne of product, almost 20 per cent more than at the beginning of the year.
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