The price of cement keeps soaring as Ghanaians are expected to pay more for the product
A 50-kilogram bag of cement will sell at GH¢73 as manufacturers in the country said they have been forced to increase their prices due to the free fall of the cedi against major foreign currencies.
They argued that the cedi depreciation has caused the price of raw materials to go up and this has also increased their cost of production thereby leading to an increase in prices.
Reports by sompa news stated that the new price of GHACEM's list for its distributors indicated a price of GH¢64.59 for a 50-kilogramme bag of cement of Super Rapid whiles Super Strong cement brand sells at GH¢68 per bag, while the GHACEM Extra is selling for GH¢72.91.
The price per 50kg bag for GHACEM Super Cool is selling at GH¢61.
Some of the manufacturers who spoke to Joy News on condition of anonymity said 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.
Officials at one of the cement manufacturing stated that "when the factory price (wholesale price) of a 50 kilogramme was about GH¢59.00, it was based on an exchange rate of about GH¢7.60 in June 2022."
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