The cement sector continues to support the Total Fight Against Inflation Program. Increases in exchange rates due to regional economic fluctuations have created domino effect on energy costs, raw material and financing costs and the cement sector has also been affected. In spite of these developments, due to the support given to the Total Fight Against Inflation Program, due to the cost increases under normal conditions, no price adjustments have been made within the year.
Pointing out that the negative effects of rising input costs in the cement sector since the beginning of 2018, contrary to the allegations of 40% increase in the press in recent days, Turkey Cement Manufacturers Association (TCMB) Board Chairman Nihat Ozdemir said: “Electricity costs have increased 76 percent again in the last two years. In the same period, the rate of increase in coal cost was 182 percent and the increase in petroleum coke costs was 170 percent. In general, the producer price index increased by 73 percent from the beginning of 2016 until the end of November 2018. In parallel, the planned price adjustments in 2019 came into the agenda. Despite the cost increases in these conditions, we, as the sector, will not make an increase of 40 percent as part of the Total Fight Against Inflation Program.”
