PHILIPPINES TO IMPORT CEMENT FROM INDONESIA
The Philippines will import 250,000 bags
of cement worth 375,000 dlrs from Indonesia by the end of the
month to meet growing demand from the construction sector,
Trade and Industry Secretary Jose Concepcion said.
    He told reporters that local cement manufacturers had
stepped up production but were falling short of demand. "The
only solution is to import," he added.
    Concepcion said average monthly requirements of cement in
1986 were 6.7 mln bags while supply hovered around 9.3 mln
bags, but this year demand had grown to 10.4 mln bags per
month.
    Trade and Industry sources said construction sector
representatives estimated an additional 70,000 bags would be
required daily to meet demand.
    Cement is officially priced at 48.50 pesos per bag, but
construction industry sources said it was selling at black
market rates of up to 65 pesos a bag in some areas.
    The sources said falling interest rates as well as a
government budget of four billion pesos in 1987 for low-cost
housing had fuelled a construction boom.
 REUTER
