{"id":548306,"date":"2022-08-03T04:00:11","date_gmt":"2022-08-03T04:00:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/cement-producers-welcome-another-year-of-production-quotas-and-a-slow-ramp-up-of-market-supply\/"},"modified":"2022-08-03T04:00:11","modified_gmt":"2022-08-03T04:00:11","slug":"cement-producers-welcome-another-year-of-production-quotas-and-a-slow-ramp-up-of-market-supply","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/cement-producers-welcome-another-year-of-production-quotas-and-a-slow-ramp-up-of-market-supply\/","title":{"rendered":"Cement producers welcome another year of production quotas \u2014 and a slow ramp up of market supply"},"content":{"rendered":"

<\/a> Cement production quotas are sticking around for another year:<\/strong> The Egyptian Competition Authority (ECA) has heeded cement companies\u2019 calls<\/a> to leave cement production curbs in place for another year \u2014 but will allow output to rise as demand picks up, Ahmed Shireen Korayem, head of the cement division at the building materials chamber of the Federation of Egyptian Industries (FEI), told Enterprise.<\/p>\n

Production has been capped for a year to fight the oversupply crisis:<\/strong> Cement production curbs were introduced in July 2021 to reduce a chronic supply glut that threatened the survival of a number of industry players<\/a>. Companies have been required to cut production by at least 10.69% for the past 12 months, a measure designed to remove some of the excess supply and support prices. The cap came into effect mid-July last year and was originally intended to last for one year.<\/p>\n

Prices have rebounded as a result: <\/strong>As of May, prices had risen almost 50% since the caps were introduced, according to Housing Ministry data.<\/p>\n

The curbs will now be eased:<\/strong> The competition watchdog has revised upwards its demand estimates and will look to allow supply to rise by about 8% over the next 12 months, Korayem said, while declining to disclose exact figures.<\/p>\n

INDUSTRY REAX- <\/strong><\/p>\n

A healthy surplus?<\/strong> Speaking to Enterprise yesterday, Lafarge Egypt CEO Jimmy Khan called it a \u201cpositive and practical\u201d decision that should produce a slight surplus to prevent shortages. The company estimates that the decision will increase supply to 55 mn tons this year, slightly more than its 50 mn-ton demand forecast. \u201cThis surplus\u2026 will ensure that there is no shortage in cement supplies to all consuming sectors, especially national projects,\u201d he said.<\/p>\n

Is this <\/strong>the best way to solve oversupply? <\/strong>\u201cIt would be more appropriate for the ECA to direct companies towards exporting their surplus production, given the competitive price of the Egyptian product in foreign markets and the government's support for freight transporting cement to African countries at a reduced cost of 80%<\/a>,\u201d Ahmed El Zeini, head of the building materials division at the Chamber of Commerce, told Enterprise.<\/p>\n

Cement makers insist the move is good for everyone: <\/strong>\u201cThe approval for renewing the quota will allow the market to behave in a dynamic way governed by demand and supply and allow businesses to run in a healthy context,\u201d Cemex Egypt and UAE CEO Carlos Emilio Gonzalez told Enterprise. Korayem agrees, telling us that increasing output in line with demand will help keep prices in check for consumers and stabilize the market.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cement production quotas are sticking around for another year: The Egyptian Competition Authority (ECA) has heeded cement companies\u2019 calls to leave cement production curbs in place for another year \u2014 but will allow output to rise as demand picks up, Ahmed Shireen Korayem, head of the cement division at the building materials chamber of the […]<\/p>\n","protected":false},"author":1,"featured_media":548307,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8661],"tags":[1002,549,72,7196,343],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-cement","tag-egyptian-competition-authority","tag-enterpriseam","tag-industry","tag-regulation","wpautop","entry"],"acf":{"mongo_id":"2e27cbd3-7611-4e73-933a-e78c7a5292dc","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/124.jpg","photo_position":"above","related_issue":[548302],"teaser":"","voice_url":""},"yoast_head":"\nCement producers welcome another year of production quotas \u2014 and a slow ramp up of market supply - 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Ahmed El Zeini, head of the building materials division at\u2026","rel":"","context":"In "Basic materials"","block_context":{"text":"Basic materials","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/basic-materials\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/310.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566665,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/06\/cement-industry-is-finally-getting-a-lifeline\/","url_meta":{"origin":548306,"position":1},"title":"Cement industry is finally getting a lifeline","author":"enterpriseam admin","date":"6 July 2021","format":false,"excerpt":"Is the government finally stepping in to rescue the cement industry? Cement producers were given the greenlight to cut production by at least 10% by the Egyptian Competition Authority (ECA), according to documents seen by Reuters. The new quotas, which will take effect on 15 July and extend for one\u2026","rel":"","context":"In "SPEED ROUND: BASIC MATERIALS"","block_context":{"text":"SPEED ROUND: BASIC MATERIALS","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-basic-materials\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/336.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590199,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/16\/cement-factories-want-production-cuts-extended-as-demand-slides\/","url_meta":{"origin":548306,"position":2},"title":"Cement factories want production cuts extended as demand slides","author":"enterpriseam admin","date":"16 July 2023","format":false,"excerpt":"A decline in the demand for cement has left producers grappling with lower prices","rel":"","context":"In "Industry"","block_context":{"text":"Industry","link":"https:\/\/enterpriseam.com\/egypt\/category\/industry\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/469.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555674,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/slightly-less-cement-oversupply\/","url_meta":{"origin":548306,"position":3},"title":"Slightly less cement oversupply","author":"enterpriseam admin","date":"23 November 2021","format":false,"excerpt":"Local cement production is on course to easily outstrip demand in 2021 despite production cuts being introduced in July to ease the years-long supply glut. But Lafarge Egypt says there are signs market demand is starting to recover, with CEO Solomon Baumgartner-Aviles now projecting a 7% rise in sales this\u2026","rel":"","context":"In "Basic materials"","block_context":{"text":"Basic materials","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/basic-materials\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/558.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543851,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/cement-production-quotas-bring-spegyco-back-from-zombie-status\/","url_meta":{"origin":548306,"position":4},"title":"Cement production quotas bring Spegyco back from zombie status","author":"enterpriseam admin","date":"21 February 2022","format":false,"excerpt":"Saad El Din Group has restarted operations at the Spanish Egyptian Cement factory (Spegyco) after a three-year hiatus, the group\u2019s media spokesperson told Enterprise, confirming reports from the local press. The factory had been taken offline due to the crippling supply glut dogging the industry, but production quotas introduced last\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574634,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/16\/cement-oversupply-crisis-could-force-six-producers-out-of-egypt-by-2021\/","url_meta":{"origin":548306,"position":5},"title":"Cement oversupply crisis could force six producers out of Egypt by 2021","author":"enterpriseam admin","date":"16 September 2020","format":false,"excerpt":"Supply glut could push six cement producers out of Egypt by next year, Lafarge boss says: As many as six cement producers could be forced to exit the Egyptian market by 2021 if the ongoing oversupply crisis doesn\u2019t abate, Lafarge Egypt's CEO Solomon Baumgartner Aviles said during a webinar, Hapi\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/184.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=548306"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548306\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548307"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548306"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548306"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}