Egypt is lacking the reduction of cement production for two months after an increase in its prices

The Egyptian Competition Authority made the decision to reduce the productive capacity of cement companies for a two -month period, from May 1 to the end of June, according to a government official to Al -Sharq, who asked not to be mentioned. The cement companies that work in Egypt, which counted 23 companies, began in July 2021, a temporary decline in production after the approval of the agency, with the aim of facing the exhibitions of the offer in the local market. The decision was extended for additional years before a third extension began in October 2023. The suspension of the decision comes amid a sharp price jump, as the price of the ton rose by 3800 pounds annually, compared to 1900 pounds in the same month last year, according to the data obtained by “Al Sharq”. The price also rose by about 13% compared to April. Egypt’s monthly production of cement is about 5 million tonnes, of which 4 million are allocated to the local market, while a million tonnes per month are exported to a number of markets, especially Libya, which imports about 100,000 tonnes per month after increasing demand. The reasons for cement companies on their way to the foreign markets, Ahmed Al -zainin, head of the building materials of the Federation of Chamber of Commerce, attributes the increase to the tendency of the companies to export, as well as their attempt to maximize the profits. The government official indicated that the procedure provided companies the opportunity to re -evaluate the production capacity, provided the decision was revised by the end of June, according to market developments. It is noteworthy that Egypt includes about 18 cement factories, most of which are located in the governors from above Egypt and Delta. The statements of the General Export and Import Control Authority showed that cement exports increased by 125% during the first quarter of this year, to amount to $ 107, compared to $ 47 in the same period of 2024.