Cement prices in Ghana det to rise Sharply as retailers adjust rates

Cement prices across Ghana are set for a significant increase, with retailers planning to raise prices by approximately GHC 9 per bag starting Thursday, February 27. Some sellers have already implemented the new pricing structure ahead of time.

Samuel Azu, a cement retailer, confirmed the imminent price adjustment. “We have not yet increased the price, but this will take effect starting Thursday. From then on, any customer purchasing a bag of cement will need to pay GHC 120.00,” he stated.

Explaining the rationale behind the increase, Azu emphasized the challenges faced by retailers in restocking supplies. “This price hike is essential because, without it, we won’t be able to restock. If you don’t have that amount, you won’t be able to buy cement in Tema or anywhere else in the country. The factories have explained that the government has raised port tariffs,” he added.

He further highlighted Ghana’s reliance on imported raw materials for cement production, noting that external cost increases inevitably impact local prices. “Since most materials used in cement production are imported, any increase in costs from the source directly impacts the final price,” Azu explained.

Another retailer, Bismark Owusu Tetteh, voiced concerns over the frequent price fluctuations and called for stricter regulatory measures to address the issue.

Meanwhile, the Ghana Chamber of Construction Industry (GhCCI) has urged the government to step in and stabilize the situation before it escalates further.

The Chamber’s CEO, Emmanuel Cherry, emphasized the government’s crucial role in resolving the matter. “The best person to assist us is the government, as they are the ones with the power. The mandate lies with them. We can only talk or advise, but it is their decision to act or not,” he said.

Cement prices have been a contentious issue in recent years. Last year, tensions arose between the Cement Manufacturers Association of Ghana and former Minister of Trade and Industry, K.T. Hammond, over a proposed Legislative Instrument (LI) aimed at regulating prices. The initiative sparked mixed reactions from industry stakeholders.

As the year unfolds, price hikes persist, with some retailers citing rising operational costs as a major factor behind the adjustments.

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