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Ghanaians to pay more for cement as product will sell at ghc68 per bag from next week

August 9th 2022, 2:25:03 pm

Cement prices are expected to go up from ¢59.00 to ¢68.00 per 50-kilogram bag from next week, according to manufacturers of the product.

Bags of cement

The manufacturers of cement in the country have attributed the increase in price to the rise in the cost of operations due to the massive depreciation of the cedi to the dollar.

They explained that based on the fact that most of them had to import some of the raw materials at a dollar rate of more than ¢9.00, “someone has to take care of this sudden increase in cost”.

They added that it has become important for them to share some of the burdens with consumers because it has become difficult for them to absorb all the rising cost of operations.

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An official at one of the manufacturing firms told JoyNews on condition of anonymity that, “when the factory price (wholesale price) of a 50 kilogram was about ¢59.00, that was based on an exchange rate of around ¢7.60 pesewas in June this year”.

This would be the second time in less than three months that the price of cement has gone up due to the rise in the cost of production.

If cement prices go up as is being suggested by the manufacturers, then it will impact the real estate industry, meaning, the prices of houses may go up. It would also impact the cost of ongoing construction projects.

Meanwhile, manufacturers have opined that government should take a second look at the taxes on the inputs and charges at Ghana’s ports.

They say if the government takes action, it would help reduce the price of cement.

Evans Effah
Evans Effah is Editor at Pulse.com.gh. He is a digital journalist, with interest in politics, business and sports. He has over 6 years experience in journalism.

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