Step by Step Guide to Buying Ghana Cocoa Beans
Sales of Cocoa beans are done by a group of traders who monitor price movements on the international cocoa futures markets in London and New York. Selling decisions are made on the basis of internal strategy towards obtaining the best achievable prices in the market. Sales are done directly to firms, registered as buyers of Ghana cocoa beans and delivered directly to designated ports.
Our client base include international and local cocoa processing companies, chocolate manufacturers and trade houses across the globe. All sales by the cocoa marketing company are made on cost, insurance and freight (CIF) terms without any commission whatsoever. In special circumstances, however, the company can make sales on such other terms as cost and insurance (C&I) and Free on Board (FOB) basis.
Registration Process for Cocoa Buyers' License
Firms wishing to be registered as primary buyers of cocoa beans from Ghana are required to:
1. Present a registration request letter to the Managing Director (CMC GH.), via email (firstname.lastname@example.org), with details of business ownership and address.
2. Provide details of the company bankers, with a copy of recent financial statement.
3. Submit evidence of membership to an international cocoa association, to guide contracts and arbitration proceedings. Membership to either the Federation of Cocoa Commerce (FCC) in London or the Cocoa Merchants Association of America (CMAA) is acceptable.
4. Upon fulfilment of requirements 1-3, CMC will conduct a Risk Assessment on the company and present the results to its Board of Directors for approval.
5. The approval process should take less than one (1) calendar month, upon the submission of all the stated information.
All the relevant details can be sent via:
Email to: email@example.com
Tel: +233 30 261 0870
- New Application - $1000.00
- Renewal of Buyer's License - $500
Sales by the cocoa marketing company are made by private treaty on the basis of the 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. All sales by the cocoa marketing company are negotiated on a net bases and all bank charges shall comply with terms of the Uniform Rules for Collections 522(1995).
Sales by the cocoa marketing company are effected on the basis of cash against documents via documentary collection. The company, however, reserves the right to insist on the establishment of letters of credit whenever it deems it necessary.
The minimum quantity for a contract of cocoa beans to all the main ports of discharge is 50 metric tonnes. In certain circumstances however, the company could insist on a larger tonnage to ascertain ports of discharge if that would serve as an inducement to carriers.
Sales are made for three monthly shipment periods (October/December, November/January, and December/February for cocoa beans). Sales are made on UK port basis. Differentials are chargeable on all European and some Asian ports and the company reserves the right to reject declared ports which are not easily accessible. Contracts in such cases are converted to FOB terms to enable buyers arrange shipment. For all contracts in which the seller books the freight and the port(s) of discharge is(are) at the buyer's option, the buyer must declare their option no later than fifteen(15) days before the first day of the shipment period, failing which the option shall be exercised by the seller.