Cement price surge above ¢80 as cedi depreciation bites manufacturers

As the cost of making cement goes up, the price of a 50-kilogram bag of cement goes over 80.

Since the last time the price was changed, almost two months ago, this is about a 10% increase.

Checks by Joy Business at some retailers show that the price of a 50 kg bag of cement ranges from 77 to 85.

In the same way, it is different for each dealer, such as GHACEM, Diamond, and Dangote. The price of Dzata cement, on the other hand, is less.

When the price of cement goes up, it means that the cost of building, in particular, will go up.

This will cause real estate prices and rents to go up all over the country, but it depends on where the building is located.

Why did it go up?

Because the cedi has lost value against the US dollar, input costs have gone up, making it possible to raise prices.

Some of the materials used to make cement are brought in from other countries, which is why costs are going up.

When the factory price (wholesale price) of a 50-kilogram bag of cement was about 59.00 in June 2022, it was based on a rate of exchange of about 7.60.

Some of the manufacturers also told Joy Business that it has been hard to keep up with all the rising costs of doing business, so consumers should take on some of the load.

They also said that the fees or taxes that are put on raw materials at the ports are too high.

The price of cement goes up to 73, and manufacturers blame the falling value of the cedi.

On August 30, the price of a 50-kilogram bag of cement shot up to 73 per bag.

The rise in prices was blamed on the free fall of the cedi, which hasn’t stopped since.