Economic Activities Inspectorate closes cement warehouses in Nacala for price speculation

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Economic Activities Inspectorate closes cement warehouses in Nacala for price speculation

6:32 CAT | 09 Dec 2015

Folha de Maputo

Three cement sales warehouses in Nacala-Porto were closed on Monday by the National Inspectorate of Economic Activities (INAE) for charging “speculative prices”.

According to the newspaper “O País”, a bag of cement costs 450-500 meticais in the cities of Nacala and Nampula, which authorities say is too much.

Store management present at the time of the compulsory closure claimed that they did not understand the decision, because “the increase in the price of cement is due to the depreciation of the metical”.

The cement price increase comes at a time of rising commodity prices in Nacala and other parts of the country. The authorities think that the cement price rises in Nacala and other parts of the northern region and the central province of Zambézia, is due to the lack of supplies from cement factories based in Nacala.

Source: Folha de Maputo