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Wed, 05 Sep 2018 13:45 - Updated Wed, 05 Sep 2018 13:45

Top cement producer reassures Zimbabwe as shortage hits market

HARARE -- Zimbabwe's largest cement producer PPC Zimbabwe on Wednesday said that cement shortage prevailing in the country was temporary and would ease after the company had completed a routine maintenance on its plant.

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PPC Zimbabwe managing director Kelibone Masiyane in a statement assured customers that the shortage was only temporary and that the cement industry had the capacity to produce more than the nation's requirements.

He said the company was operating at peak capacity following a planned annual kiln maintenance in July at its factory in southern Zimbabwe in preparation for increased demand anticipated towards the end of the year.

"While we cannot speculate about other industry players, I would like to assure the market that PPC Zimbabwe factories have the ability to supply the existing market with quality products," he said.

He also said the rising cement prices were artificial since the company had last increased prices on its products in April 2012.

"As a company, we appeal to our customers to avoid panic buying as this is likely to compound the situation. We are continuously engaging our retailers, to act responsibly with regards to cement pricing in the market. We further advise customers to procure their cement requirements from our approved stockists," he said.

Zimbabwe has seen a rise in prices of some basic commodities in the recent months, with retailers attributing it to the shortage of foreign currency.

Some major retail shops are also rationing cooking oil to two bottles per customer after some people began engaging in panic buying and hoarding in anticipation of imminent shortages.

The Confederation of Zimbabwe Retailers has also said prevailing shortages of some basic commodities were also temporary,XINHUA.

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