Cement offtake is substantially lower than early year expectations and recorded a negative growth in FY22 (of 8%) first time since FY11, over a decade ago. The primary culprit seems to be exports that have fallen 42 percent, coming down to 10 percent of total dispatches as opposed to 16 percent last year. Reduced demand in exporting countries, high freight rates that made exports uncompetitive all the while traditional markets such as Afghanistan and Sri Lanka drying up having undergone considerable political and economic disruptions. Domestic dispatches meanwhile did not display much excitement, growing only 1 percent in sales during the year compared to FY21.
…
Read the full story at the Business Recorder - Latest News website.
