Ghana's cement price is likely to continue rising and could surpass GHS60/bag (US$9.94) by the end of the year if some taxes and levies are not scrapped, say cement producers.
In the last seven months cement prices in the country have risen three times, amounting to a 27 per cent rise and pushing retail prices to GHS50/bag.Manufacturers have had no choice but to absorb a lot of the costs to keep cement prices at their current level.
Raw material prices continue to rise and the scarcity of ship vessels or empty containers to transport goods globally has influenced freight costs for local cement importers. Indeed, the freight price for clinker has increased by 55 per cent in the first half of 2021, according to data from the Chamber of Cement Manufacturers. Cement producers are also experiencing delays at ports incurring extra penalties of anchorage and demurrage.
