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Subsidiaries & Divisions
Efficient marketing of cocoa is of prime concern to COCOBOD. Purchasing, transportation, storage and marketing of cocoa, both internally and externally are coordinated by COCOBOD and the Cocoa Marketing Company (Ghana) Limited (CMC).
CMC performs the external marketing function of the Board as well as the take-over function within the internal marketing system.
Our priority is to create distinct value for Ghana cocoa beans by striving to become a global leader in trading, warehousing and shipping of cocoa to all destinations around the world.
We do this by being reliable and trust- worthy in our business dealings and employ best practice in product and service delivery. Our strength as leading supplier of premium quality bulk cocoa is the blend of experience and creative workforce that we have.
1. CURRENT SALES PROCEDURE FOR CERTIFIED COCOA BEANS (NEGOTIATIONS AND CONTRACTS)
• Buyers of certified cocoa beans should be registered licensed buyer with CMC with a valid license.
• The registered buyer should have a contract with CMC to enable them request delivery of certified cocoa beans against those contracts.
• The buyer then goes into negotiations with the LBC or Co-operative which produces the certified cocoa and or possesses the certification license to agree on tonnage to be produced or delivered. With regards to organic cocoa, because of its different physical attributes, the CMC enters into direct negotiations with a licensed buyer nominated by the Organic certification holder for the sale of the Organic cocoa.
• Buyers submit shipment declaration at the beginning of the shipment period notifying CMC as to which contract the delivery should be made against and with which type of certified cocoa (Organic, Traceable, UTZ or Rainforest).
• An M.O.U defining the responsibilities and obligations of the stakeholders in the certification project is signed by COCOBOD, the buyer and the LBC in the case of traceability. With respect to UTZ, RA and Organic, the agreement is between COCOBOD and the certificate holder.
2. E-TRANSACTION FOR SHIPPING DOCUMENTS PRESENTATION
CMC, from the commencement of the 2012/13 Cocoa season, introduced e-collection in the presentation of shipping documents to the buyers.
The objective is to reduce the transaction cycle from the current average cycle of eight days to between two to three days. (Transaction cycle refers to the time for the original shipping documents to be sent to the presenting banks).