Kenya’s weak currency to cause cement price hike

Kenya's weak currency has caused local cement makers to suffer foreign exchange losses in the recent months. For instance, National Cement Company incurred a KES 160 million (€1.45 million/US$1.64 million) foreign exchange loss due to importation of equipment and inputs in May 2015. Clinker, coal and spare components were found to be items that really took a toll on local cement makers' importation costs in April and May 2015. As such, cement producers expect that a price hike of about 10% on cemen
June 18, 2015 Read time: 1 min

Kenya's weak currency has caused local cement makers to suffer foreign exchange losses in the recent months.

For instance, 7844 National Cement Company incurred a KES 160 million (€1.45 million/US$1.64 million) foreign exchange loss due to importation of equipment and inputs in May 2015.

Clinker, coal and spare components were found to be items that really took a toll on local cement makers' importation costs in April and May 2015.

As such, cement producers expect that a price hike of about 10% on cement will occur in June 2015.

At present, cement sells for KES 660 to KES 700 for every 50kg bag.

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