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Business News of Thursday, 21 March 2019

Source: Starr FM

Cement prices shoot up over Cedi Depreciation

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Cement prices of almost all firms have seen some Ghc2 40pesewas increase.

This is about the second increment of cement prices in two months.

The cement companies say they have been forced to increase the price due to the depreciation of the cedi which has push the cost of their raw materials up. This has further increased their cost of operation.

GHACEM has increased its product by GHC2 40 pesewas across board.

It Super Rapid Cement has jumped from GHC30.47 to GHC32.47; Super Strong Cement has moved from GHC30.83 to GHC33.23 and the GHACEM Extra has inched up from GHC31.68 to GHC34.18.

Dangote Cement which produces just one variety, the 42.5 grade has increased it from GHC32.55 to GHC35.55.

Lastly, CIMAF cement has also increased all its grade of cements. 42.5R which was selling at GHC30.80 is now GHC33.20. The 42.5N grade has moved from GHC 30.30 to GHC32.70. The 32.5R grade has gone up from the GHC 29.90 to GHC32.30

The Chairman of the AGI construction sector Rockson Dogbega tolds Starr Business’ Osei Owusu Amankwaah that, the construction sector has continuously had their margins declining due to the development.

The sector wants government to give it some attention to save their investments.

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