Cement Price Increases To ¢73 As Manufacturers Blame Cedi Depreciation

The price for a 50-kilogramme bag of cement has been increased by manufacturers, effective August 30. Checks revealed that all the major manufacturers have adjusted their prices upward. Some of the manufacturers also said customers should expect about ¢8 to ¢15 increase per bag on the market. This will, however,

be influenced by the location as Accra may have a different price from the other regional capitals due to transportation. “Based on the fact that most of the manufacturers have to import some of the raw materials at a dollar rate of more than ¢9, someone has to take care of this sudden increase in cost”, a manufacturer said.

This might be the second time in less than three months that the price of the product has gone up due to what the manufacturers described as the rising cost of production. The development may impact the prices of houses in the short term and the personal budget of many individuals who are currently putting up houses in

the country. It could also affect the cost of ongoing construction projects. Manufacturers had in recent times pushed for government to take a second look at the taxes on the inputs and charges at Ghana’s Ports. They had hoped government will take an action to help reduce the price of cement. It is the hope that these manufacturers will see review taxes/levies at the ports, a move that could help slow down the hikes in the price of cement recorded in recent times.