Cedi depreciation causes cement prices to go up

Cedi depreciation causes cement prices to go up

Dangote Cement

 

Cement prices have gone up raising concerns from stakeholders in the construction industry.

XYZ News has learnt this is the second increment in two months, but producers are 2blaming the latest increase on the depreciation of the cedi against major foreign currencies.

According to the breakdown, GHACEM Super Rapid Cement has increased from GHC 30.47 to GHC 32.47; Super Strong Cement has moved from GHC 30.83 to GHC 33.23 and the Ghacem Extra has also gone up from GHC 31.68 to GHC 34.18.

Its competitor, Dangote Cement which produces just one variety, the 42.5 grade has been increased from GHC 32.55 to GHC 35.55.

The CIMAF cement has also increased all its grade of cements. The 42.5R which was previously sold at GHC 30.80 is now going for GHC 33.20.

The 42.5N grade has increased from GHC 30.30 to GHC 32.70. The 32.5R grade has gone up from the GHC 29.90 to GHC 32.30

The increment in cement prices comes barely three weeks after bread sellers also took a similar decision.

The action was initiated by bread sellers in the Ashanti region who demanded a 20% increase because a bag of which was sold at GH¢120, she said, is now sold at GH¢165, adding that the price of sugar has also been increased from GH¢140 to GH¢185.

President of the bakers association, Comfort Akotua said flour and other products used in baking bread have been increased about five times within this month, which is making them run at a loss.

Madam Akotua disclosed that a loaf of bread, which currently sells at GH¢2 will be GH¢3 but that is yet to reflect nationwide. It is also unclear of prices will remain the same for reduced sizes of bread.

Meanwhile, fuel prices have been increased again. it has shot up marginally to 5.22pesewas on the average across all filling stations. This has also been blamed on the cedis.

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