Trade Minister engages cement manufacturers over rising prices       

The Ministry of Trade and Industry (MoTI) and the Chamber of Cement Manufacturers, Ghana (COCMAG) have agreed to periodically hold consultative meetings with industry players.

The meeting will focus on developments in cement manufacturing, bagging and distribution, especially prior to the announcement of ex-factory price changes by the individual companies.

The Minister, Kobina Tahir (K.T) Hammond called the meeting to express concern about the rising cost of cement at the retail end and its adverse economic impact on the economy. 

It pointed out that Individual companies are to publish the recommended distribution and retail prices of the various grades of products sold in each of their respective distribution zones

Companies are also required to vigorously enforce quality standards and weights of cement products on the market to clamp down on the production and distribution of substandard cement products

In addition, stakeholders are expected 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 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 ended.