Cement prices across Ghana are poised for a sharp increase, with retailers planning to add approximately GHC 9 per bag starting Thursday, February 27th. Some retailers have already implemented the new rates.
Samuel Azu, a cement retailer, confirmed the impending price adjustment, “We have not yet increased the price, but this will take effect starting Thursday. From then on, any customer purchasing a bag of cement will need to pay GHC 120.00.
“This price hike is essential because, without it, we won’t be able to restock. If you don’t have that amount, you won’t be able to buy cement in Tema or anywhere else in the country. The factories have explained that the government has raised port tariffs,” Azu explained.
Azu elaborated on the dependency on imported materials, stating “Since most materials used in cement production are imported, any increase in costs from the source directly impacts the final price.”
Another retailer, Bismark Owusu Tetteh, expressed frustration over the frequent price fluctuations and emphasized the need for stricter regulatory enforcement.
Meanwhile, the Ghana Chamber of Construction Industry (GhCCI) has urged the government to intervene and stabilize the situation before it worsens.
The Chamber’s CEO, Emmanuel Cherry, stressed the government’s role in addressing the issue. “The best person to assist us is the government, as they are the ones with the power. The mandate lies with them. We can only talk or advise, but it is their decision to act or not.”
Cement prices were a contentious issue last year, sparking a standoff between the Cement Manufacturers Association of Ghana and former Minister of Trade and Industry, K.T. Hammond, over a Legislative Instrument (LI) aimed at regulating prices.
The initiative introduced by the former minister received mixed reactions from stakeholders in the supply chain. As the year progresses, price hikes continue, with some retailers citing rising port tariffs as the primary cause.
Source: Citinewsroom