Cement exports fall by 18% YoY in February amid strong local demand
MG News | March 16, 2021 at 04:45 PM GMT+05:00
March 16, 2021 (MLN): Cement exports during the month of February 2021 declined by 5.9% MoM and 17.93% YoY to USD 19.52 million compared to USD 20.75 million in the previous month and USD 23.79 million in Feb’20, the latest data released by Pakistan Bureau of Statistics revealed.
The decline in exports can be attributable to due to strong domestic demand as local players shift their sales mix towards the local market to take advantage of higher retention price and seasonality also played a part.
In addition, the manufacturers are dealing with high fuel and energy costs, which resulted in a decrease in overall cement exports in the last few months.
In terms of quantity, the exports of cement dropped by 11.5% MoM and 17% YoY to 537,452 metric tons.
On a cumulative basis, the Cement exports during 8MFY21, dipped by 3% YoY from USD 193.924 million to USD 183.198 million.
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