Cement prices are expected to be increased from next week.
The price of a 50-kilogram bag is expected to increase from ¢59.00
¢68.00. The increment is necessitated by a sudden rise in the cost of operations, from July 2022, as a result of a sharp depreciation of the cedi over the past month.
According to some of the manufacturers, it has been very difficult to absorb all the rising costs of operations, and there is a need to share some of the burdens with consumers.
The factory price (whole sale price) of a 50 kilogram was about ¢59.00, which was based on an exchange rate of around ¢7.60 pesewas in June this year, however, most of the raw materials are imported on a dollar rate and because of e depreciation of the cedi, there is a need to increase the price of cement.
This will impact the prices of houses in the short term and the personal budget of many individuals who are currently putting up houses in the country.
Bainamultimedia/ Ayinawu Alhassan Adam
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