The Confederation of Truckers Association of the Philippines (CTAP) has reduced its volume growth projection for the year.
CTAP cited soaring fuel prices, relocation of some foreign firms to more investment-friendly countries, and the generally slow economy as reasons for the expected slowdown in cargo volume.
“We are anticipating single-digit growth or 10% at best for 2012. This is lower than our volume growth posted last year,” CTAP president Ruperto Bayocot told PortCalls.
“Fuel prices and the overall performance of the economy will continue to put pressure on the movement of goods,” he said.
“Aside from importation, there is no other growth area for truckers… we expect the export sector to continue to coast along again this year,” Bayocot noted, adding the only likely growth area for exports this year is the mining sector.
CTAP is eyeing the adoption of a general rate increase which will take into consideration other potential cost hikes this year such as on fuel, spare parts, labor and toll fees.
The pump price of diesel as of this writing is P46-P47 per liter but this is largely expected to increase some more due to continuing political conflict in the Middle East, the source of much of the world’s oil.
Truck Cargo Delivery Vehicle by happykanppy http://www.freedigitalphotos.net/images/view_photog.php?photogid=1948
