The price of a bag of cement produced by GHACEM, the leading manufacturer of the product, has shot up.
The increase in the price of the product is attributable to the unstable Ghana cedi and the high cost of clinker, a substance used in the manufacture of cement.
The depreciation of the cedi, the local currency against the US dollar, has thus pushed the price up.
A visit to some distributors of the product in some parts of Accra revealed that the price of a bag of cement is now pegged at GH¢31 from GH¢27 previously.
Dr Dawson Amoah, Corporate Strategy & Planning Director of GHACEM Limited, told journalists in Accra that the ex-factory price of cement has been increased by GH¢2.8.
The wholesale price at GHACEM before the recent price adjustment was GH¢26.555 for a bag of cement as against the current GH¢29.375.
The GHACEM director explained that his outfit has no hand in the pricing of the commodity at the retail level, adding that the high cost of raw materials in the production of the product was a major contributing factor in the price increment.
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