Cement prices exceed MVR 300 amid supply shortage
Industry sources attribute the increase to higher oil prices and disruptions in freight transport linked to the conflict between Israel and Iran.
Prices of cement have increased to over MVR 300 per bag amid ongoing supply shortages, according to suppliers.
A 50kg bag of cement was previously available for less than MVR 100.
Industry sources attribute the increase to higher oil prices and disruptions in freight transport linked to the conflict between Israel and Iran.
Villa Hakatha stated that it is currently retailing a 50kg bag of cement at MVR 313. The same product was sold at MVR 254 one week earlier.
The State Trading Organization stated that it has not increased its cement prices.
Apollo Holdings reported that it is currently out of stock, with no confirmed date for new shipments.
Supplies of other construction materials have also been affected, with reports of shortages and price increases.
A cabinet committee established to monitor the impact of the Middle East conflict stated at a press briefing that it is observing developments affecting the construction sector.
