Cement prices have risen above ¢80 as the cedi depreciation hits manufacturers

Cement prices have risen above ¢80 per 50 kilogramme bag as manufacturers’ input costs climb.

This represents a 10% increase over the latest price change, which occurred over two months ago.

How much is bag of cement in Ghana Today?

According to Joy Business checks at some retail dealers, the price of cement ranges from ¢77 to ¢85 per 50 kilogramme bag.

Similarly, it differs amongst dealers such as GHACEM, Diamond, and Dangote.
Dzata cement, on the other hand, is less expensive.

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The rise in the price of cement suggests that the cost of construction, particularly building, would rise.

This will cause an increase in the price of real estate as well as housing rents around the country, depending on the location of the building.

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Why the increase in cement bag prices?

The rise is feasible due to growing input costs as a result of the cedi’s depreciation against the US dollar.

Some of the materials used to make cement are imported, which raises the operating costs.

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When the factory price (wholesale price) of a 50 kilogramme bag of cement was around ¢59.00 in June 2022, it was based on an exchange rate of around ¢7.60.

Part manufacturers also told Joy Business that it has been difficult to absorb all of the increased operational costs, and that there is a need to share some of the burden with consumers.

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They further argued that the taxes or levies put on raw commodities at ports are excessively high.

On August 30, the price of a 50 kilogramme bag of cement increased to 73 per bag.

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The manufacturers blamed the increase on the cedi’s free fall, which hasn’t been saved since.

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Cement prices have risen above ¢80 as the cedi depreciation hits manufacturers.

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