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BUYING GHANA COCOA BEANS, ETC

Procedure For The Sale Of Cocoa Beans, Cocoa Products, Sheanuts & Coffee


The Cocoa Marketing Company (Ghana) Limited is a wholly owned subsidiary of the Ghana Cocoa Board solely responsible for the sale of Ghana cocoa beans, cocoa liquor, butter, cake and powder from Cocoa Processing Company (TAKSI/PORTEM BRANDS). Other commodities sold by the Company are sheanuts and coffee.

All sales by the Cocoa Marketing Company (Ghana) Limited are made to firms registered by the Company as Buyers on Cost, Insurance and Freight (CIF) terms without any commission whatsoever. In special circumstance, however, the Company can make sales on such other terms as Cost and Insurance (C & I) and Free On Board (FOB).


Registration

Firms wishing to be registered as buyers for Cocoa beans and Cocoa products are required:

  1. to apply in writing direct to the Managing Director of the Company.

  2. to provide evidence that they have usefully been employed in some capacity in the cocoa trade in a consuming country or that they are organised in such a way that they can effectively handle the commodity on the International Market.

  3. to furnish the Company with the name(s) and address(es) of their bankers to enable it to ascertain the firm's financial capability of buying at least 2,500 tones per crop year - 1st October to 30th September.

  4. to provide evidence of their membership of the Cocoa Association of London and or the New York Cocoa Merchants Association, even if they are members of other Cocoa Associations.

Firms interested in Sheanuts and coffee are also required to apply direct to the Managing Director of the Company for registration and must furnish the Company with the name(s) and address(es) of their Bankers.


Communication
Registered buyers can get in touch with the Cocoa Marketing Company (Ghana) Limited direct by telephone, telex, cable or fax. Apart from these, and to maintain effective contact with buyers overseas, the Company has an established office in London which is fully organised to receive bids from buyers and transmit them by telex, fax or teleprinter to Accra for decision. The Office, in effect serves essentially as an additional trading channel and medium of market information but has no authority to enter into binding contracts.

The address of the London office is as follows:

Ghana Cocoa Marketing Company (UK) Limited
Unit 5 Granard Business Centre
Bunn's Lane, Mill Hill
London NW7 2DQ
Tel: 081-9064877
Fax: 081-906-4095
Telex: 264497/8
Website: www.cocobod.gh



Negotiation
Sales by the Cocoa Marketing Company (Ghana) Limited are made by private treaty on the basis of World Market values at the best prices obtainable, and negotiations are governed by normal commercial considerations only, without any kind of discrimination in favour of or against any individual firm or particular company.


Payment
Sales by the Cocoa Marketing Company (Ghana) Limited, except those made under Special Trade Payment Agreements, are effected on the basis of Cash Against Documents on first presentation in either New York or London. The Company, however, reserves the right to insist on the establishment of Letters of Credit whenever it deems it necessary to do so. Sales under Trade And Payment Agreements are, however, made against Letters of Credit. All sales by the Cocoa Marketing Company (Ghana) Limited are negotiated on a net basis and all local Bank charges are for the account of the Country.


Contract Quantity
The minimum quantity for a Contract for Cocoa Beans to all the main ports of discharge is 50 metric tonnes while that for the cocoa products is 10 metric tonnes. In certain circumstances, however, the Company could insist on a larger tonnage if that would serve as an inducement to Carriers. The minimum shipment quantity for Sheanuts and Coffee is also 50 metric tonnes.


Shipment
Sales are made for three monthly Shipment periods, e.g. October/December, November/January, December/February, etc. for cocoa beans and for two monthly shipment period, e.g. February/March, March/April etc. for cocoa products; sheanuts and coffee. In both cases, the sales are made on the basis of Main UK ports. Differentials are chargeable on all European and USA outports, and the Company reserves the right to reject declared ports which are not easily accessible.

Buyers are required to declare ports of destination at the time of negotiation or, at the latest, two clear calendar months prior to the commencement of the Contract shipment period. Requests for change of destination are entertained; but each request is dealt with, on its own merit.

For further details contact:

Cocoa Marketing Company (Ghana) Limited
P.O. Box 1017
Accra, Ghana
Tel: 233-21-228866-5/668464
Fax: 233-21-665076
Telex: 2082/2546/2311 Accra

Cocoa Processing Company Limited
Private Post Bag
Tema, Ghana
Tel: 233-221-2926/2914/6375
Fax: 233-221-6657/233-21-665076
Telex: 2082 GH



THE STORY OF GHANA COCOA IS AS FOLLOWS:

Ghana's cocoa industry has been the mainstay of the Ghanaian economy for a long time and remains a considerable source of foreign exchange. The world's leading producer until 1976, producing over 580,000 tonnes, Ghana production fell to 159,000 tonnes at the beginning of the 1980s. Ghana is presently the world second largest producer of cocoa; producing over 500,000 tonnes.

In fiscal year 2000 Ghana cocoa industry produced over 400,000 tonnes of cocoa. It may interest you to know that buyers of Ghanaian cocoa pay an additional US$50 more because of the high quality of the beans.

From a small beginning in the late 19th century with the first export of 80lbs, of dry cocoa beans from Ghana in 1891, the industry expanded steadily till it reached an annual average of 254,000 tons between 1933 and 1937, with a peak of 300,000 tons in 1936, then equivalent to 50% of the world's total production.

The quality of Ghana cocoa continue to be acceptable to many consuming countries, but there is still room for considerable improvement. Manufactures want beans which are fully fermented, with a brown "break", not slaty or purple. Good quality can be achieved only if the fullest attention is given to harvesting and preparation.

Some History
Ghana cocoa is famous all over the world for its very high quality.

In memory of the late Tetteh Quarshie, the man who introduced cocoa into Ghana, a Hospital building was built in Mampong in Akwapim and a round-about (circle) in Accra near Kotoka International Airport has been named after him.

The cocoa industry is one of the live-were of Ghana's economy.

The cultivation of cocoa in commercial quantities began in about 1878 with cocoa pods brought from Fernando Po by Tetteh Quarshie. Peasant farmers in the country accepted the challenge, and with support of Government, established Ghana as the world's leading cocoa producer from 1910 until about 1979 when Ghana was overtaken by other countries. The causes of the decline are well known and the government is doing everything possible to revive the waned farmer interest. The old generation of cocoa farmers are gradually being replaced by a new one who may be enthusiastic, but ignorant of the techniques of cocoa farming.


Harvesting
There are 2 harvests in the year, the main crop and the smaller or mid crop seasons. The main crop season begins in October and ends in February, while the smaller or mid crop season is between May and August.


Ghana's Cocoa Processing Factories
The Ghana Cocoa Board (COCOBOD) has as one of its principal subsidiaries the COCOA PROCESSING COMPANY LIMITED (CPC) which was incorporated in 1981. This company was formed to control and co-ordinate the operations of Ghana's three cocoa processing factories and one confectionery factory.

The factories are identified by the brand names given to their products. Two factories, TAKSI and WAM (West Africa Mills) are located in the port city of Takoradi and the other two, PORTEM (cocoa) and PORTEM (confectionery), are in the same industrial compound in the township of Tema.

The choice of Takoradi and Tema as sites for these factories ensures an uninterrupted supply of raw cocoa beans by road and rail from the hinterland and also facilitates the storage and speedy export of the finished products.

The longest-established factory was WAM, which was founded by the International Cocoa Merchants Gill & Duffus in 1947, coming under the Cocoa Board in 1982. it is now administered by joint ventureship between the Ghana Cocoa Board and Schroeder of the Hosta Group of Companies of Germany, and is called WAMCO I.

TAKSI was set up by the Government of Ghana in 1964 and placed under the Cocoa Board in 1969. WAMCO I entered into joint ventureship with COCOBOD in December, 1993, and TAKSI is now called WAMCO II.

PORTEM comprises two factories - Cocoa and Confectionery. The confectionery products bear the brand name GOLDEN TREE and the semi-finished cocoa products bear the brand name PORTEM.


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