Licensed buying agencies may export 30 pct of cocoa

Qualified licensed buying companies (LBCs) can apply to the Ghana Cocoa Board (COCOBOD) for licence to export 30 per cent of their purchases.

The measure, which took effect in October, this year, forms part of the liberalisation of the cocoa sector. Mr John Newman, Chief Executive of COCOBOD, announced this in an address read for him at the commissioning of a Cocoa bulk Terminal belonging to Unicorn Commodity Ghana Limited at the Takoradi Port.

He said that, to this end, COCOBOD, in consultation with government, has established the Cocoa Sector Marketing Committee (COSMARC) to assess applicants and make recommendation to COCOBOD for licence to export cocoa. COSMARC is made up of stakeholders in the cocoa industry and its members include representation from cocoa farmers, the private sector, banks, universities and government.

Mr Newman said the changes taking place in the cocoa sector had affected operational areas such as warehousing, shipping and bulk handling of cocoa.

Under the bulk cocoa handling regime, cocoa can be stored in bulk in warehouses and subsequently transported either by road haulage or by ship to overseas destinations (ports). Mr Newman said Ghana began shipment in bulk in the 1995/96 cocoa season in containers especially designed to carry cocoa over the high seas.

He said the Unicorn warehouse introduces into Ghana the practice of storing cocoa beans in bulk prior to their being loaded into containers and also directly into the holds of vessels.

Mr Eric Andre, Managing Director of Unicorn Commodity Ghana Limited, said the construction of the terminal started in mid-1999 and by April 2000, the doors of the warehouse were opened for the first time for business. He said total investment of the project is 3,000,000 United States Dollars and that the warehouse is especially designed for bulk storage.