Ghana cement prices expected to fall

If Ghana’s cedi continues to stabilise, prices of cement can be expected to fall, according to Morten Gade, managing director of Ghacem.

Cement prices have increased rapidly in 2Q14 as erratic power supply and the depreciation of the cede against major foreign currency impacted on the value and availability of cement in the west African country.

However, recent weeks have shown an appreciation of the cedi against major foreign currencies, prompting the call for a decrease in general goods prices by consumers.

Morten Gade said “It’s a little bit early days to tell exactly how and when but definitely if we see a stable cedi we will also see cement prices coming down this year.” He also said that the reliability of power supply significantly affects the company’s production volumes, particularly at Takoradi.