Price of cement expected to be increased from the current price GHC59 to GHC68. Some manufactures in the country said the action has been influenced by a sudden rise in the cost of operations, from July 2022, due to the fast depreciation of the cedi over the past month.
According to to joynews, "Officials at one of the manufacturing firms told them that "when the factory price (whole sale price) of a 50 kilograms was about ¢59.00, that was based on an exchange rate of around ¢7.60 pesewas in June this year".
Rising cost of operations however, based on the fact that most of them had to import some of the raw materials at a dollar rate of more than ¢8.00, "someone has to take care of this sudden increase in cost".
Some of the manufactures have also told Joy Business that it has been very difficult to absorb all the rising cost of operations, and there is the need to share some of the burden 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 say is the rising cost of production.
The development may impact 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 impact on the cost of on-going 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 hope government will take an action to help reduce the price of cement. It is the hope that these manufacturers will see review of taxes/levies at the ports that could help slowdown the hikes in the price of cement recorded in recent times".
Source: Joynews
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