Cement Prices Hit New Highs as Retailers Blame Import Costs
Retailers brace for a GHC 9 price hike per bag, citing rising port tariffs and import costs, while industry leaders call for government intervention.
- Cement to cost GHC 120 per bag starting February 27
- Retailers blame increased port tariffs and import expenses
- GhCCI urges government action to stabilize prices
Ghana is bracing for another surge in cement prices, with retailers preparing to increase costs by approximately GHC 9 per bag starting Thursday, February 27th. Some vendors have already implemented the new pricing.
Samuel Azu, a cement retailer, confirmed the upcoming hike, stating, “We haven’t raised prices yet, but from Thursday, customers will have to pay GHC 120 per bag. Without this adjustment, we won’t be able to restock.”
Azu attributed the increase to rising port tariffs, emphasizing that the cost of imported raw materials directly impacts cement prices. Another retailer, Bismark Owusu Tetteh, voiced concerns over the persistent price fluctuations, calling for stronger regulatory measures.
The Ghana Chamber of Construction Industry (GhCCI) has urged the government to intervene and stabilize the market before conditions worsen. Its CEO, Emmanuel Cherry, stressed that the government holds the key to resolving the crisis.
Last year, cement prices became a hot-button issue, sparking tensions between the Cement Manufacturers Association of Ghana and former Trade and Industry Minister K.T. Hammond over a proposed Legislative Instrument (LI) to regulate prices. With port tariffs rising again, retailers warn that further price increases may be inevitable.
