Another cement company, Dangote, has reduced prices of its cement by GHc2.70.
This follows the gradual appreciation of the Cedi against the dollar and other major international trading currencies for some time now.
According to the Sales and marketing manager of Dangote Cement Ghana Limited Joeseph Kobina Abu, “what we have done now is to reduce the price from GHc30.75 to GHc28.05 “.
The downward price revenue by Dangote Cement took effect on the October 9.
This was a day after GHACEM Cement reduced the price of their products by Ghc2 for similar reasons.
According to GHACEM the ex-factory price of its 50kg cement bag had been reduced from GHc30.55 to GHc27.965.
The more than 30% depreciation of the cedi in the first half of 2014 hugely impacted businesses contributing to a rise in cost of production.
Most businesses transferred the extra cost to consumers , translating into the increase in prices of goods on the market.
The reaction by the two market leaders (GHACEM and Dangote) reiterate the huge competition between them and efforts to control the market.