The retail price of cement has surged by up to Rs30 per bag in Pakistan, with current prices fluctuating between Rs1,220 and Rs1,280 per bag, depending on the region.
According to market insights from JS Global, cement producers in the Northern region have escalated prices by Rs20-30 per bag to reinstate previous price levels.
This adjustment follows a notable dip in cement dispatches across the country, which decreased by 0.29 percent year-on-year (YoY) in April, reaching 2.943 million tons (MTs) compared to 2.951 MTs in the corresponding period last fiscal year, as reported by the All Pakistan Cement Manufacturers Association (APCMA).
The data reveals that local cement dispatches in April 2024 stood at 2.328 MTs, a decline from 2.531 MTs in April 2023, representing a 7.99 percent decrease. Conversely, export dispatches experienced a significant surge, rising by 45.96 percent, with volumes climbing from 420,857 tons in April 2023 to 614,264 tons in April 2024.
The recent price hike is poised to further strain the construction industry, which is already grappling with escalating costs and a slowdown in demand. Stakeholders in the industry are expressing concerns over the impact on ongoing and upcoming projects.