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Cameroon Gov’t Ask Cement Manufacturers to Lower Prices

Cement
Cement

The Minister of Commerce, Luc Magloire Mbarga Atangana on September 1st 2022, invites cement producers operating in Cameroon to lower their prices.

The communique signed precised that Mira SA has the best price tags as it sells cement type 42.5R is now sold in Douala at 4800 FCFA the bag of 50 kg instead of 5100 FCFA. The consumer price of the same product is FCFA 5,100 in Yaoundé instead of CFAF 5,400, a drop of CFAF 300 as well. This makes an overall drop of 400 FCFA in this category of cement.

As for type 32.5R cement, it costs CFAF 4,100 in Douala, instead of CFAF 4,600 previously. The same cement costs the consumer 4400 FCFA per bag in Yaoundé, instead of 4900 FCFA, previously. This means a wholesale reduction of 500 FCFA in this category of cement.

Consequently, the Minister of Commerce “invites other actors in the same sector and in all sectors of mass consumption products to be inspired by this fine example of economic patriotism, in the name of resilience and sustainability”.

Producer Mira SA is lowering its prices, while its competitors (Cimencam, Dangote, Cimaf…) are using the imported increase in production factors to justify the visible increase in their products on the market. Their 50 kg bag of cement is sometimes sold by some crooked merchants at at least 5800 FCFA in the market. The Ministry of Commerce’s fraud squad is often forced to raid markets to crack down on speculators.

Among the assets that allow Mira SA to keep the price of its products low, its managers invoke “increased forward-looking management of raw material supplies”, as well as significant input storage capacities. As a result, the company has not suffered as much from Covid-19 as its competitors, let alone from the current Russian-Ukrainian crisis.



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Published on 05.05.2023

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