Cement prices to hit ¢55 per 50 kilo bag from next week

The price for a 50-kilo bag of cement is expected to be increased from the current ¢45 Ghana to ¢55 per bag from next week.

Joy Business is learning that the product will be sold in Accra at however ¢60.

Sources say the increment can be attributed to the depreciating value of the Ghana cedi, the recent hikes in transport fares and the Russian-Ukraine war, which has affected the movement of logistics and transportation of some of the raw materials from abroad for local production.

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.

Manufacturers have in recent times pushed for government to take a second look at the taxes on inputs and charges at ports.

They were hoping that could have helped the situation, especially last year.

But this didn’t get the needed attention from government.

These manufacturers had hoped that waiving some of these charges at the ports could have slowed the hikes in recent times.

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