Home / BUSINESS NEWS / Cement Prices To Hit ¢68 Per Bag Due To Cedi Depreciation – Manufacturers

Cement Prices To Hit ¢68 Per Bag Due To Cedi Depreciation – Manufacturers

Spread the love

Cement prices are expected to be increased from next week.

Joy Business is learning that the wholesale price of a 50 kilogramme bag is expected to hit ¢68.00, from the current price of ¢59.00.

 

 

 

Why the increase?

According to some of the leading manufactures in the country, the action has been influenced by a sudden rise in the cost of operations, from July 2022, due to the sharp depreciation of the cedi over the past month.

Officials at one of the manufacturing firms told Joy Business on condition of annonymity that, “when the factory price (whole sale price) of a 50 kilogramme was about ¢59.00, that was based on an exchange rate of around ¢7.60 pesewas in June this year”.

See also  GES Refutes Reports Of Alleged Introduction Of New Uniform For Teachers

 

 

 

Rising cost of operations

However, based on the fact that most of them had to import some of the raw materials at a dollar rate of more than ¢9.00, “someone has to take care of this sudden increase in cost”.

Some of the manufacturers have also told Joy Business that t it has been very difficult to absorb all the rising cost of operations, and there is the need to share some of the burden with consumers.

This might be the second time in less than three months that the price of the product has gone up due to what the manufacturers say is the rising cost of production.

See also  Economist To Government: Halt Car Purchases For Officeholders, Review Free SHS

Impact on housing industry

The development may impact prices of houses in the short term and the personal budget of many individuals who are currently putting up houses in the country. It could also impact on the cost of on-going construction projects.

 

 

Reducing Cement prices

Manufactures had in recent times pushed for government to take a second look at the taxes on the inputs and charges at Ghana’s ports.

They had hope government will take an action to help reduce the price of cement.

It is the hope that these manufacturers will see review of taxes/levies at the ports that could help slowedown the hikes in the price of cement recorded in recent times.

See also  NIB Arrests Mathematical Sets Supplier After Opoku Prempeh’s Vetting

 

 

 

 

 

Master Of Ceremony (M.C) available for all your events.

 

 

 

 

 

 

 

 

 

 

Source: My Joy Online

 

 

 

 

Disclaimer: MyGhanaMedia is not responsible for this report and its content. There are four types of content published on MyGhanaMedia daily: curated content; syndicated content; user-generated content; and original content.

Image


Send your news stories to [email protected] and Chat with us via WhatsApp on +233 200818719

 

 

 

About Adwenpa-Hene

I'm Adwenpa-Hene |Blogger & Broadcaster Journalist. I am the CEO and manager of this noble website. I publish on Entertainment, Sports, Politics, Lifestyle, and Technology. You can also follow Us on : YouTube Channel - My Ghana Media TV, Facebook - MyghanaMedia TV , Twitter - @MyGhanamedia2 & Instagram - My Ghana Media TV. Email Address: [email protected] Contact Us: 0200818719

Check Also

Minority To Cocoa Farmers : A Future NDC Gov’t Will Not Short-Change You

Spread the love The Minority in Parliament has said that considering extreme inflation and hardship …

Leave a Reply

Your email address will not be published.