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Cocoa Freight Rate Up By 5 Percent For 2021/22 Season

Trade
By Kojo Hayford
Cocoa Freight, Rate, Ghana, Cocoa Marketing Company, Ghana Shippers Authority, Cocoa shipment, Afrotropic Cocoa Processing Company Limited, Ghana Cocoa Board, Cocoa import, Chocolate, Cocoa processing, COCOBOD, Main crop, Light crop, Cocoa beans, Nigeria, Togo, Ecuador, Cote d'Ivoire, FILE

Negotiations over the cocoa freight rate for the 2021/22 cocoa year has ended in Accra with parties agreeing a five percent (5%) upward adjustment, the BFT has reported.

Reports say the parties including Cocoa Marketing Company (CMC), Ghana Shippers Authority and the shipping lines agreed on a 5% increment across the board on the previous freight rate with the Bunker Adjustment Factor increased by 1%.

This means the freight rate charged by shipping lines that ferry cocoa from Ghana to various international destinations are up, with cargo to the United Kingdom, for example, now at £31.5 from the previous rate of £30.

This conclusion was arrived at during the 2021/2022 Cocoa Freight Negotiation Conference, held in Accra.

Represented by his deputy, the Minister of Transport Kweku Ofori Asiamah, said infrastructural investments made in both the ports of Takoradi and Tema would give the shipment of cocoa in Ghana a significant boost.

The Managing Director of the Cocoa Marketing Company, Vincent Okyere Akomeah, revealed that Ghana recorded the highest production levels ever since the introduction of cocoa in the 2020/2021 year despite the year being a very challenging one.

He, however, called on shipping lines to increase their use of the Takoradi Port.

Mr. Akomeah disclosed that “only four shipping lines call at the Takoradi Port although that port handles the highest volumes of our shipment, that is 47% of our total shipment, with Tema and Kumasi accounting for 40% and 13% respectively.”

The Chief Executive Officer of the Ghana Shippers Authority, Benonita Bismarck, praised shipping lines for adopting improved digital means of transaction in the face of the COVID-19 pandemic.

However, she urged the lines to institute standard operating procedures for their various services to improve ease of doing business at the ports of Ghana.

“Some of the shipping agents had a plethora of inexplicable charges and also engage in blacklisting clearing agents for outstanding debts on previous transactions to the detriment of innocent consignees thereby resulting in delays and colossal demurrage payments. These issues have impacted on the rising cost of doing business at Ghana’s ports,” she bemoaned.

Kojo Hayford
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Stanbic Bank Powers Gablin Cocoa Products Onto China Market

By Kojo Hayford

Gablin Foods Limited, producer of origin cocoa products from Ghana, has landed supply deals with key distributors in the Chinese fast-moving consumer goods (FMCG) industry.

When the contracts are finally firmed up by the parties, Gablin Foods will see its range of cocoa products appear on some major retail shelves in China.

Natural cocoa powder, chocolate powder, chocolate bars, spread and chips are some of the product offerings of the emerging Ghanaian cocoa SME.

Gablin Foods was selected and supported among other Ghanaian SMEs by Stanbic Bank Ghana to participate in the 2023 China-Africa Economic and Trade Expo (CAETE) held in Changsha, China.

The Ghanaian SMEs shared the Africa Pavilion with their counterparts from other African countries under the sponsorship of South Africa’s Standard Bank Group.

Managing Director of Gablin Foods, George Adjei-Bekoe, told Cocoa Post that he is excited about the prospects in the Chinese market for Made in Ghana cocoa-based products.

“As an SME primarily focused on producing natural cocoa powder, chocolate bars, and spreads, our collaboration with Stanbic Bank has been transformative,” he said.

Adjei-Bekoe noted that the bank “supported our export venture to Taiwan last year. This year, as part of Ghana’s delegation to the Changsha trade expo, my expectations were modest due to past challenges in China.”

He said Gablin cocoa products became the toast of participants at the China-Africa trade expo with all samples running out on the first day of the event.

We received a lot of enquires by visitors mainly about the availability of Gablin Products on the Chinese market.

According to the Gablin Foods boss, the positive buzz created by their cocoa products in China was affirmed by supply orders from key Chinese retail firms during the B2B sessions.

“We are excited to report that Gablin Foods is currently working on the first order for some of our cocoa products for a client from the event in China,” noted Adjei-Bekoe.

He underscored, “CAETE 2023 was a fantastic outing for Gablin Foods, with visits to a factory and in addition to dozens of business leads, the opportunity of a B2B meeting with potential buyers of our Made-in-Ghana premium cocoa and chocolate products.”

In response to constructive feedback from CAETE 2023, we are presently working on our new packing line, as well as certifications for our cocoa and chocolate products to meet the promising market in China, he said.

Adjei-Bekoe, who is also the President of the Cocoa Value Addition Artisans Association of Ghana (COVAAAGH), is upbeat about Stanbic Bank aiding fellow Ghanaian cocoa SMEs to tap promising export markets.

The Gablin Foods boss expressed his gratitude to the Management of Stanbic Bank Ghana, and the China Africa Trade Banking team for the opportunity.

In a post-event Facebook post, they entreated other small and medium enterprises in the country to “Be inspired by Mr George Adjei-Bekoe, CEO of Gablin Foods Ltd’s story, as one of the participants at the 2023 China-Africa Economic and Trade Expo (CAETE) held in Changsha, China.”

It continued “At Stanbic, we believe that to succeed in a business, you need the right partnerships. Look no further! Partner with us today.”

The 2023 China-Africa Economic and Trade Expo (CAETE) was held in the Chinese city Changsha from June 29 to July 2, 2023.

The City located in China’s Hunan Province has a population of more than 8 million and is said to be the 17th most populous city in China.

Source Cocoa Post

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