(Manila, Philippines) — Cement maker Holcim Philippines Inc. is hiking its prices by P5 to P8 per bag in Metro Manila and Southern Luzon starting on June 21.
The company said the increase will cover the higher cost of electricity in Mindanao and rising oil prices.
Department of Trade and Industry Undersecretary Zenaida Maglaya said Holcim has informed the department about the price adjustment.
Holcim said this is the first time in 20 months it would be raising its prices in the two areas mentioned.
In January, Holcim hiked prices in Northern Luzon.
It said that power costs in Mindanao rose by 42%, while fuel costs have gone up by 20% since January.
Holcim operates three cement facilities in Mindanao – one in Lugait, Misamis Oriental, another in Davao and one facility through subsidiary, Alsons Cement Corp.