Cement prices surge to GH¢108, defying Trade Minister’s directive

Despite a ministerial directive to the Cement Manufacturing Development Committee in Ghana, cement prices continue to rise, wreaking havoc in the real estate industry and pushing rent prices in Accra to new heights.

Prices checked show a significant jump from last week to this week, leaving many buyers bewildered.

In May 2024, cement ranged from GH¢85 to GH¢90 depending on the brand and ratio. As of June 4, 2024, prices soared to around GH¢110, according to dealers who spoke to GBC Ghana Online at Pokuase.

One dealer revealed current prices: Dzata cement (42R) is now GH¢108, Cimaf (42R) is GH¢107, Cimaf (32R) is GH¢87, and Ghacem (42R) leads the market at GH¢110.

Other sources report Diamond cement at GH¢75 and GH¢85, while Dangote ranges between GH¢92 and GH¢94.

Minister of Trade and Industry, Kobina Tahir Hammond, recently called for an immediate reversal of these price hikes to alleviate pressure on Ghanaians.

However, this directive appears to have been ignored, possibly due to overlooked root causes of the increases.

In a May 15 statement, the Ministry urged the Cement Manufacturing Development Committee (CMDC) to enforce the price reversal without fail and ensure uniform cement prices nationwide.

The CMDC, established under the Ghana Standards Authority (Manufacture of Cement) Regulations, 2023 (LI 2480), is responsible for regulating cement manufacture and promoting its wholesale and retail.

The Committee’s membership includes representatives from cement manufacturers, the Association of Ghana Industries (AGI), the Environmental Protection Agency, the Ghana Institution of Engineers, the Ministry of Trade and Industry (MoTI), and the Ministry of Environment, Science, Technology and Innovation.

Source:myjoyonline.com

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