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| Some Cement brands in Ghana. |
Cement Manufacturers have raised the cost of a 50-kilogram bag
of cement as of August 30.
All the big manufacturers have raised their pricing, according
to Joy Business' checks.
GHACEM’s new price list
A 50-kilogram bag of Super Rapid cement was priced at ¢64.59
in GHACEM's updated pricing list for its distributors.
While GHACEM Extra, costs ¢72.91 per bag, its Super Strong brand only costs ¢68.00 per bag.
Why the increase?
Some manufacturers claim that the hike is as a result of an
abrupt spike in operating expenses starting, July 2022 as a result of the
fast depreciation of the cedi in recent months.
On condition of anonymity, a representative from one of the
manufacturing companies explained to Joy Business that "when the factory
price (wholesale price) of a 50 kilogramme was around GH¢59.00, it was based on
an exchange rate of about GH¢7.60 in June 2022.
Customers could anticipate a market rise of between ¢8 and ¢15
per bag, according to some manufacturers.
However, the location will matter since Accra can cost more
than the other regional capitals because of transportation.
Also Read: A look at prices of goods and services as inflation hit 31.7%.
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 admitted to Joy Business that
it has been very challenging to absorb all of the increased operating expenses,
and as a result, some of the burden must be shared with customers.
The product's price may have increased for the second time in
less than three months as a result of what the producers referred to as the
rising cost of production.
Impact on housing industry
The development may have an immediate effect on housing costs
as well as the personal finances of many people who are now building homes
around the nation.
It could also have an impact on how much current building
projects cost.
Reducing cement prices
The government has recently been under pressure from
manufacturers to review the taxes on inputs and fees at Ghana's ports.
They had thought the government would do something to assist
bring down the cost of cement.
It is hoped that by reviewing the taxes and levies at the
ports, these producers would be able to halt the recent increases in cement
prices.
Source: ghananews.hrforum.uk
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