KARACHI: Cement export from the country decreased by 18 per cent to 5.8 million tonnes in fiscal year 2015-16 against 7.2 million tonnes in the previous fiscal year.
Exports through sea witnessed huge decline by 33% year on year (YoY) basis to 2.4 million tonnes, as compared to 3.6 million tonnes in FY15. Seaborne export prices have further declined by $3-4 per tonne owing to bulk supply by Lafarge-global in export markets on reduced prices, greater exports from Iran, and lifting of ban on exports by Saudi Arabia, resulting in stiff price competition in export markets such as East Africa, Yemen and Sri Lanka, the analysts added.
Excluding exports to India, which increased by more than 30% in FY16, cement exports to Afghanistan from Pakistan declined by 38% in the same fiscal, and the country witnessed more than 10% decline in cement exports to the rest of the world due to the economic slowdown there.
