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Kenyan Cement Prices May Fall on Rising Competition, Daily Says

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March 3 (Bloomberg) -- Cement prices in Kenya may fall as much as 10 percent this year because of increased competition, Business Daily reported, citing the heads of two domestic producers of the building material.

In December, wholesale prices for a 50-kilogram (110-pound) bag of cement dropped to 600 shillings ($7.25) from 660 shillings previously, the Nairobi-based newspaper said. A further decline may reduce cement companies’ profits, it said, citing East African Portland Cement Co. Chief Executive Officer Kephar Tande and Athi River Mining Ltd. Managing Director Pradeep Paunrana.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net.

To contact the editor responsible for this story: Paul Richardson in Nairobi at pmrichardson@bloomberg.net.

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