The cement industry will record a growth this year following a 10-percent decline in 2020, according to a local cement manufacturer.
However, Republic Cement president and chief executive officer Nabil Francis said last year’s actual drop in growth from 2019 level was lower than the forecasted cement sales volume drop of 15 percent.
“We strongly believe that we will get back to 2019 level in 2021. It means 12-percent growth compared to 2020,” he said.
Francis said the industry is expected to sell 35 million tons of cement this year.
“The main driver is the bagged (cement) segment, which is the individual house builders, as the real backbone of the demand. The segments that are lagging behind are the infrastructure and the non-residential,” he added.
Meanwhile, Francis has welcomed the investigation initiated by the Department of Trade and Industry (DTI) on the alleged dumping of cement from Vietnam.
“Most of the cement that is imported from Vietnam is dumped to the Philippines. It is sold at a price much lower than the domestic cement prices in Vietnam. The Vietnamese cement industry is subsidized also by the government,” he said.