KARACHI - Cement total sales for the first month (July) of current financial year 2010-11 stood at 2.5 million tons, compared with 2.8 million tons in the same month last year and 2.9 million in June this year, depicting 12 per cent YoY and 16 per cent MoM decline in growth respectively over the equivalent month of previous fiscal year. All Pakistan Cement Manufacturers Association (APCMA) revealed cement dispatch numbers for the month of July 2010 on Friday. According to ACMA data, the sales of cement in local market during July FY11 arrived at 1.75 million tons, plunged by 16 per cent MoM, but flat on a YoY basis. July has been a traditionally weak month for cement demand due to the monsoon period, as evident from July 2009 off-take when sales witnessed a decline of 12 per cent YoY. However, the decrease has been slightly magnified in July 2010 due to the heavy rainfalls and floods during the tail end of the month. ACMPA data further showed that export sales came at 775k tons in July, which are down 15 per cent MoM and 31 per cent YoY. A research analyst at JS Global believes the month on month decline is due to the absence of the inland freight subsidy, whereas the fall on yearly basis can be attributed to less attractive prices this time around. He expects August off-take to remain disappointing on the back of the recent floods and the holy month of Ramadan. However, demand to pick up post 1HFY11, after reconstruction activities in the flood affected areas begin, he added.