Ready-mix concrete companies in Cyprus are set to increase their prices by 5 percent from January 2025, passing on costs from a recent wage settlement to consumers following a prolonged workers’ strike.
The companies will implement a 5 percent price hike from 1 January 2025, equivalent to a €4 increase per cubic metre, according to information obtained by Phileleftheros. Additionally, quarries have decided to raise their prices by €1 per tonne, representing a 10 to 15 percent increase.
Construction contractors told Phileleftheros that concrete suppliers had informed them of price adjustments due to increased labour costs following the new collective agreement that ended the strike.
However, industry professionals argue that the announced price increases cannot be justified by the rise in labour costs alone. They claim the additional revenue concrete companies will generate from these increases significantly exceeds the costs associated with the new collective agreement with their workers.
The price adjustments come in the aftermath of the extended strike in the ready-mix concrete sector, suggesting that the dispute’s implications continue despite the labour agreement being reached.
Read more:
