Cement manufacturers to publish recommended prices

The Chamber of Cement Manufacturers reached an agreement with the Ministry of Trade and Industry (MoTI) to publish recommended distribution and retail prices for cement.

This is to address concerns about growing cement prices at the retail level, which are expected to have a negative economic impact.

The agreement was reached when the trade minister met with the leadership of the chamber.

A statement issued by the MoTI said both parties have agreed to hold consultative meetings with industry players on developments in cement manufacturing, bagging, and distribution regularly, particularly before individual companies announce ex-factory price increases.

“We have agreed to Collaborate on exploring the possibility of introducing a uniform cement pricing formula that ensures uniformity and consistency in retail pricing across the country, taking into account key cost variables,” the statement said.

Mr Kobina Tahir Hammond, Minister for Trade, and Industry urged stakeholders to be aware of the widespread effects of price increases.

He urged them to monitor and control distributors and retailers recommended ex-factory price margins for various product grades across the country.

According to the statement, the parties agreed to actively adopt market-wide quality standards and weights for cement products to reduce the production and distribution of substandard products.

“The Ministry would like to assure the consuming public that these and any other measures necessary will be implemented in collaboration with the Chamber of Cement Manufacturers, Ghana, to ensure price adjustments are justifiable and within reasonable limits,” the statement indicated.

Source: GNA