Sharp rise in cement prices expected to impact both private and government projects

The price of cement has sharply increased in the Maldivian market, creating serious challenges for construction workers and contractors.

Several traders told Sun that cement now costs more than twice what it did previously. A basket that sold for under MVR 100 is now priced above MVR 200, they said.

Contractors report that the sudden spike is already slowing down ongoing works and increasing project costs.

STO remains the country’s largest importer of cement and sand. Traders say that when STO releases smaller quantities to the market, demand shifts to private suppliers, pushing prices higher. STO could not be reached for comment regarding the current price surge.

Market observers also point to rising global oil prices as a contributing factor. The ongoing conflict between Iran and the United States has driven up fuel costs, increasing transportation and shipping rates. Higher freight charges directly raise the price of imported goods, including construction materials.

The Maldives sources most of its construction materials from India, UAE, Pakistan and Vietnam. Customs data shows India remains the largest supplier of stone and sand to the Maldivian construction sector.

Industry players warn that such a steep rise in cement prices will affect both private construction and government projects, increasing overall costs and slowing progress across the sector.