Who qualifies to buy cocoa beans from us?
All sales by us are made to companies registered by the Cocoa Marketing Company (Ghana) Limited as Buyers of Ghana cocoa beans.
What are the terms of sales?
All sales are made to registered companies 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.
How are prices determined?
Our sales are made by private treaty on the basis of the international cocoa 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 client or particular company.
The minimum quantity for a Contract of Cocoa beans to all the main ports of discharge is 50 metric tonnes. There is no maximum quantity for a contract of cocoa. However, the trading will determine maximum quantity based on the capacity of the company making the request.
What is the minimum/maximum quantity in a single contract?
What are the payment terms?
Sales are made 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 to do so. All sales are negotiated on a net basis and all bank charges shall comply with terms of the Uniform Rules for collections 522 (1995).
What are the registration processes?
All potential clients wishing to be registered as buyers for Cocoa Beans are required to:
1. Apply in writing direct to the Managing Director of the Cocoa Marketing Company.
2. Provide evidence that they have reasonably been operating 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. Furnish the Company with the name(s) and address(es) of their bankers to enable it to ascertain the company’s financial capability.
4. Provide evidence of their membership of the Federation of Cocoa Commerce Ltd. (FCC), London and or the Cocoa Merchants Association of America (CMAA), New York, even if they are members of other cocoa associations.
What other services does Ghana Cocoa Marketing Company provide?
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What are the shipping arrangements?
Sales are made for three monthly shipment period, e.g. October/December, November/January, December/February etc for cocoa beans. The sales are made basis Main UK ports. Differentials are chargeable on all European and U.S.A. out 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.
Buyers are required to declare ports of destination at the time of negotiation or, at least, 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.