Prices for cement are anticipated to rise, starting the next week.
The 50-kilo bag’s wholesale price is anticipated to rise from its current GH59.00 price to GH68.00.
Some of the country’s largest manufacturers claim that the unexpected increase in operating costs beginning in July 2022 as a result of the rapid depreciation in the value of the Ghana cedi over the previous month has had an impact on the action.
When the factory price (whole sale price), for a 50 kilogram was around GH¢59.00, that was based on an exchange rate of around GH¢7.60 pesewas in June this year
Officials at one of the manufacturing sites.
However, someone had to cover this unexpected price hike given that the majority of the manufacturers now import various raw materials at a dollar rate greater than GH9.00.
Some of them have also argued that some of the burdens should fall on customers because it has been so tough to absorb all these escalating operating costs.
The price of the product may have increased for the second time in less than three months as a result of what the producers claim is an increase in the cost of production.
The development may have an immediate impact on housing costs as well as the personal finances of many people who are now building homes around the nation. It might have an effect on the price of ongoing construction projects as well.
The government has recently come under pressure from the industry to review the taxes on inputs and fees at Ghana’s ports.
They believe it would be beneficial, particularly in terms of bringing down the cost of cement. But the government didn’t give this the necessary attention.
These manufacturers had hoped that evaluating some of these port fees may have curbed the recent price increases.
At this point, we’re all tired. We’ll use palm leaves.
Thoughtful headline, good job
Interesting piece
This is getting worst than expected but I don’t think we can fault this companies soo much since there’s a high rise in their operational cost, and that’s always transferred to final consumer 😩