The Commerce Commission has released the new price of Cement which shows a decrease.
Chairperson, Dr Mahendra Reddy said that the Commission after concluding its study on the determination of Cement prices, it has decided that the General Blended Bag Cement will now cost $233.91 which is a decrease of $21.73, while the General Purpose Bulk Cement which was $232.40 has gone down by $19.75.
He said the Commission released an interim determination for Portland cement sold by Fiji Industries Limited on 15th October last year allowing a nine percent increase in the prices of bagged and bulked cement.
He said this determination was valid until 31st of January. However he said after considering many issues, the Commission has decided to decrease the price of cement.
Meanwhile, Dr Reddy said that the Commission also received a formal submission from Fletcher Pacific Steel Limited requesting for a 6.5% increase in price of steel rod.
However after doing its research, the Commission decided that the price of steel will not change and will remain the same as it is now.
He said the Commission will be writing to all retail outlets of Cement and Steel products that it will be monitoring the retail price to ensure that price changes at the wholesale level do filter down to the end users.
