Some cement products
Prices of cement continue to rise in the oil city of Takoradi in the Western Region, despite claims by some government officials that recent economic stability has led to a reduction in cement prices.
A visit to several cement dealers and hardware stores revealed a sharp contrast between those claims and the reality on the ground.
A recent market survey by DAILY GUIDE indicated that within a span of about five months, the price of a bag of cement has increased by an average of 40 percent.
In January this year, a bag of cement was selling between GH¢80.00 and GH¢90.00 in Takoradi. It now sells for GH¢123.00.
It was revealed that the factory price of a bag of “42.5R” GHACEM cement, the preferred choice of many construction workers and private developers, is about GH¢116.00.
However, retailers sell it at GH¢123.00 due to transportation costs.
Similarly, the factory price of a bag of “32.5R” cement is around GH¢95.00, while the retail price stands at approximately GH¢112.00.
The survey also showed that outside Takoradi, in towns like Agona Nkwanta, Asankragwa, and Tarkwa, a bag of 42.5R cement now sells for between GH¢123.00 and GH¢125.00.
Some dealers made it clear that this is the current reality – even as the government insists that inflation, the rate at which prices of goods and services rise, has been brought under control.
Many residents of the area are finding it difficult to reconcile the appreciation of the Ghana cedi with the continued steep increases in the prices of goods and services.
Some real estate companies in Takoradi expressed concern about the rising cement prices, despite claims that the cedi is performing better against the dollar.
“We haven’t seen any change. Cement prices have kept going up, even after it was announced that the cedi was appreciating against the dollar,” one developer, who pleaded anonymity, noted.
“Ideally, the appreciation of the cedi should have brought down the prices of building materials – especially cement,” another industry player added.
“But what we are seeing now suggests that the stronger cedi hasn’t translated into any real benefit for those of us in the construction sector,” he said.
From Emmanuel Opoku, Takoradi