The Fiji Commerce Commission has approved a 2.7% increase in the wholesale price of bagged and bulk cement effective from 1 November 2013. Commission chairman Dr Mahendra Reddy said the prices were determined following factors raised in a detailed analysis of the submission from Fiji s sole cement producer, Fiji Industries Limited (FIL) and an independent investigation and analysis.
"Those factors included an increase in the price of raw materials (clinker and slag) from previous years because of the strong US currency, an increase in production labour rate by 4% based on union log of claim and an increase in capital expenditure to maintain the mill efficiency in the financial year 2013," said Reddy.