The price for a 50-kilogramme bag of cement has been increased by manufacturers, effective August 30.
Checks by Joy Business revealed that all the major manufacturers have adjusted their prices upward.
GHACEM’s new price list
GHACEM’s new price list for its distributors indicated a price of ¢64.59 for a 50-kilogramme bag of cement of Super Rapid.
Its Super Strong brand is however selling at ¢68 per bag, while the GHACEM Extra is going for ¢72.91.
Why the increase?
Some of the manufacturers say the increase has been influenced by a sudden rise in the cost of operations, from July 2022, due to the sharp depreciation of the cedi over the past months.
Officials at one of the manufacturing firms told Joy Business on condition of anonymity that, “when the factory price (wholesale price) of a 50 kilogramme was about ¢59.00, it was based on an exchange rate of about ¢7.60 in June 2022.
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.
The rising cost of operations
“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.
Some of the manufacturers also told Joy Business that t it has been very difficult to absorb all the rising costs of operations, and therefore there is the need to share some of the burdens with consumers.
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
Impact on housing industry
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.
Reducing cement prices
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.
Latest Stories
-
Ghana Museums and Monuments Board engages stakeholders to revitalise Asante Traditional Buildings for cultural preservation and tourism boost
14 mins -
Israeli strikes on north Lebanon and Gaza kill dozens, officials and rescuers say
28 mins -
Livestream: The Bawumia plan to protect Free SHS, equip youth with job skills
31 mins -
Miss Malaika Ghana Glow Up Finale beckons: A new queen is coming!
38 mins -
No amount of twisting will change our commitment to review Free SHS policy – Asiedu Nketia
1 hour -
2024/25 Ghana League: Basake Holy Stars come from behind to beat Accra Lions
1 hour -
Mahama condemns “neglect of communities over petty partisan political reasons”
2 hours -
License Independent Power Generators in Ghana under Free Zones Act
2 hours -
Kuami Eugene writing ‘Watch Me’ song for me was a prophecy – Empress Gifty
3 hours -
Speaker has not shown unwillingness to comply with Supreme Court order – Opoku Agyei
3 hours -
If I were an MP’s wife, my actions would let other MPs’ wives adore me – Empress Gifty
3 hours -
NDC MPs have made it impossible for the 4 affected MPs to come to Parliament – Opoku Agyei claims
4 hours -
Urgent Warning from Ghanaian-Canadian: Move to Canada Immediately
4 hours -
Samira Bawumia: Challenging norms, breaking glass ceilings and the “Closer” in Ghana’s 2024 elections
5 hours -
Eblah Foundation commissions biodegradable community toilet for Whuti community
5 hours