Local cement producer, GHACEM, has vowed to adjust the price of its cement products if the cost of raw materials and freight costs witness a reduction in the coming weeks.
According to the company, it is committed to the country’s development, despite several interventions made already in the past years.
Speaking to Joy Business, the Managing Director of GHACEM, Stefano Galini, hinted that the recent hike in cement price is a result of the high cost it incurred during production.
The cost of cement went up marginally in February this year in the retail market due to external factors and the rising cost of raw materials.
Mr Galini said the situation has affected its profitability due to the many interventions aimed at cushioning consumers from paying the full price of the commodity.
“We have been exposed to many high rising costs of raw materials, freight and other components in the production of our cement products for the past seven to eight months, such that we have to take care of it in order not to pass it over to the consumer, looking at the economic situation.”
“However, let me say we commit to adjusting the price downwards if the cost of freight is reduced. For us, other raw materials can be sourced at lower prices,” he noted.
He further assured that engagements are ongoing with the Ghana Port and Harbours Authority to address some concerns with port handling charges, which also add on to the cost of production of the company.