BREAKING: Cement Prices Hit GH¢80 Per Bag
Cement prices according to the information has increased as wholesale price of a 50 kilogramme bag to GH¢80.00, from the current price.
According to Ghanaian freelance journalist, media personality Bridget Otoo, the cement prices goes up by 7 cedis after some of the leading manufactures in the country, the action has been influenced by a sudden rise in the cost of operations, the cement will hit 80 cedis a bag in some parts of the country due to the sharp depreciation of the cedi over the past month.
Bridget Otoo taken to her social media handle, she wrote:
Cement will hit 80 cedis a bag in some parts of the country.Cement prices are going up by 7 cedisHow can any business survive like this? You don’t make profit and the price goes up again! So your capital keeps reducing. It’s not funny at all.
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.