Prices for Fiji’s cement products are set to drop following a decrease in prices for imported clinker.

Pacific Cement Pte Ltd – the premier supplier of cement and related products in Fiji and the Pacific – had implemented new ex-factory wholesale prices for its general blended bag cement and general-purpose bulk cement products in Fiji, effective May 10 (2023).

According to the Fijian Competition and Consumer Commission (FCCC), it had received a submission from Pacific Cement Pte Ltd on April 27 (2023) requesting a decrease in the price of its cement product.

As part of its submission, the cement supplier also provided its capital expenditure plan for the coming year.

The FCCC stated that after an independent review of the submission, it noted the landed cost of clinker had decreased.

Clinker is the major constituent used by cement companies in Fiji to manufacture general blended bag cement and general-purpose bulk cement for construction needs.

“Taking into consideration these factors, FCCC has issued an Interim Authorisation to Pacific Cement Pte Ltd, authorising new ex-factory wholesale prices for general blended bag cement and general-purpose bulk cement, decreasing by 11.29 per cent and 14.23 per cent, respectively,” the Commission stated.

The new ex-factory price of 40kg general blended bag cement for Pacific Cement will be $15.18 VEP, decreasing by $1.93 VEP per bag of cement.

Consumers in the country should also expect a decline in Pacific Cement retail prices in the coming weeks.

The Commission stated it would continue to monitor the performance of Pacific Cement on a monthly basis to assess its performance and cost structure.

The Interim Authorisation is valid until June 30, 2023, during which time the Commission will will undertake a comprehensive review of Pacific Cement’s cost structure and asset base to implement Final Authorised prices.