Cement Prices to Rise Again as Retailers Blame Import Costs

Cement prices in Ghana are set for another significant increase, with retailers preparing to raise prices by approximately GHC 9 per bag starting Thursday, February 27. Some sellers have already implemented the new pricing.

Cement retailer Samuel Azu confirmed the adjustment, stating, “We haven’t increased the price yet, but from Thursday, customers will have to pay GHC 120.00 per bag.”

He explained that the price hike is necessary to sustain operations. “Without this increase, we won’t be able to restock. If you don’t have that amount, you can’t buy cement in Tema or anywhere else. The factories have indicated that the government has raised port tariffs,” Azu said.

He further highlighted the industry’s reliance on imported materials, noting, “Most of the raw materials used in cement production are imported, so any cost increase at the source directly affects final prices.”

Another retailer, Bismark Owusu Tetteh, expressed frustration over the frequent price changes and called for stronger regulatory oversight.

In response to the rising costs, the Ghana Chamber of Construction Industry (GhCCI) has urged the government to take action to stabilize the market.

GhCCI CEO Emmanuel Cherry emphasized the government’s responsibility in addressing the issue. “The government has the power to intervene. We can only raise concerns and advise, but the decision to act rests with them.”

Cement prices were a hotly debated topic last year, leading to a dispute between the Cement Manufacturers Association of Ghana and former Trade and Industry Minister K.T. Hammond over a proposed Legislative Instrument (LI) to regulate pricing.

While that initiative sparked mixed reactions among industry players, price hikes persist, with many retailers attributing the latest increases to rising port tariffs.