LAHORE: Current economic turmoil has badly impacted the cement consumption as the sector registered a decline by 16.55 percent in April 2023 in despatches for domestic and export markets.
Total cement despatches during April 2023 were 2.951 million tons against 3.536 million tons despatched during the same month of last fiscal year.
All Pakistan Cement Manufacturers Association (APCMA) claiming the prevailing economic turmoil as a reason for this decline said that the local cement despatches by the industry during the month of April 2023 were 2.531 million tons compared to 3.380 million tons in April 2022, showing a decline of 25.13 percent.
Exports despatches increased by 168.61 percent as the volumes increased from 156,613 tons in April 2022 to 420,677 tons in April 2023.
In April 2023, North based-cement mills despatched 2.193 million tons cement showing a decline of 23.54 percent against 2.868 million tons despatches in April 2022.
South based mills despatched 0.758 million tons cement during April 2023 that was 13.44 percent more compared to the despatches of 0.669 million tons during April 2022.
North-based cement mills despatched 2.109 million tons cement in domestic markets in April 2023 showing a decline of 24.85 percent against 2.806 million tons despatches in April 2022. South-based mills despatched 422,071 tons cement in local markets during April 2023 that was 26.47 percent less compared to the despatches of 573,975 during April 2022.
Exports from North-based mills increased by 35.93 percent as the quantities increased from 61,971 tons in April 2022 to 84,238 tons in April 2023. Exports from South also increased by 255.49 percent to 336,439 tons in April 2023 from 94,642 tons during the same month last year.
During the first 10 months of current fiscal year, total cement despatches (domestic and exports) were 36.551 million tons that is 17.50 percent lower than 44.306 million tons despatched during the corresponding period of last fiscal year.
Domestic despatches during this period were 33.095 million tons against 39.506 million tons during same period last year showing a reduction of 16.23 percent.
Export despatches were also 27.99 percent less as the volumes reduced to 3.456 million tons during the first ten months of current fiscal year compared to 4.800 million tons exports done during same period of last fiscal year.
Copyright Business Recorder, 2023
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