Stable cedi credited for recent drop in cement prices – Trade Minister

The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has attributed the recent decline in cement prices to improvements in exchange rate stability, offering relief to players in the construction industry.

According to the Minister, prior to the current government assuming office, a bag of 42.5R cement sold for about GH¢118, while 32.5R cement cost roughly GH¢113. She explained that prices have since reduced, with 42.5R cement now selling at approximately GH¢107 and 32.5R cement retailing between GH¢80 and GH¢85.

Speaking to journalists after a meeting with cement manufacturers on Monday, January 19, Elizabeth Ofosu-Adjare said engagements with industry players have contributed to the downward adjustment in prices. She noted that the improved macroeconomic environment, particularly the relative stability of the exchange rate, has played a key role in easing production costs.

She acknowledged that although manufacturers still face challenges such as electricity costs and demurrage charges, they have made efforts to ensure that cement prices reflect the current economic stability. The Minister added that government has encouraged producers to keep prices fair, given its understanding of the factors that influence production costs.

The Minister further disclosed that cement manufacturers have assured her of their commitment to keeping prices affordable. She emphasized that there have been no reports of price increases and that producers are mindful of balancing profitability with consumer welfare.

Elizabeth Ofosu-Adjare assured the public that government will continue to closely monitor the cement industry. She praised manufacturers for their willingness to cooperate with regulators and comply with pricing and quality standards, stressing that any non–exchange rate factors likely to affect prices should be communicated for collective discussion. She also noted that the Ghana Standards Authority will remain active in ensuring product quality for consumers.

Meanwhile, the Chief Executive Officer of the Chamber of Cement Manufacturers, Bishop Dr. George Dawson-Amoah, reaffirmed the industry’s stance against unfair trade practices. He explained that manufacturers support healthy competition but insist on a level playing field where all producers adhere strictly to the law.

He added that the industry regularly undertakes self-regulation to ensure compliance, particularly with quality standards. Dr. Dawson-Amoah stressed the importance of maintaining high-quality cement to protect consumers and uphold industry credibility.