The sanitary ware market has witnessed a further spike in prices due to instability of exchange rate and the ongoing import restrictions, according to First Deputy of Division of Sanitary Ware Traders Division at the Cairo Chamber of Commerce and a member of Importers Division, Matta Beshay.
He added that prices of sanitary ware have increased by at least 40%, and this is due to the import of many goods, and the impact of changes in exchange rates of dollar against the pound, which prompted merchants to review sales strategies during the current period, in order to preserve their capital.
He explained that all imported products increased their prices by 47%, while prices of plastic materials used in sanitary ware increased by 20% to 30%, during the past three months.
He noted that sanitary ware dealers resorted to changing their selling policy, and stopping the forward sale during the period. This is due to market fluctuations, as the current methods used in selling are either in cash or giving a deadline of a week at the latest, and this is due to the instability of exchange rate and the continued imposition of restrictions on imports, he said.
He stressed that with the stability of the exchange rate of dollar against pound, and the opening of imports, prices of sanitary ware will witness more stability in prices and costs.