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Company News of Monday, July 22, 2019
Source: starrfm.com.gh
2019-07-22
CMC Limited has stated that it has not failed to find a buyer for 2020/21 cocoa beans.
The Ghana Cocoa Board and its subsidiary Cocoa Marketing Company (CMC) Limited have stated that they have not failed to find a buyer for 2020/21 cocoa beans, as has been widely advertised in the media. International.
Ghana and Côte d'Ivoire last week lifted the suspension of the 2020/21 cocoa bean sale following the official announcement of the new cocoa trade mechanism.
In accordance with commercial practice, CMC decided on June 19, 2019 to conduct a market survey after the introduction of a vital income differential (LID) and to weigh the market reaction and its dynamics.
"We would like to correct the misrepresentation of the LID in order to incur a surcharge. The LID is part of the price component of the trading mechanism and does not constitute a surcharge, as reported by Bloomberg, "says a statement from COCOBOD.
The management of Ghana Cocoa Board and its subsidiary Cocoa Marketing Company (CMC) Limited have noted with concern the inaccurate interpretation and publication of Bloomberg and other media companies regarding the sale of Ghanaian beans.
"We therefore urge all to disregard the news that Ghana has not found a buyer, which seems to correspond to a certain negative narrative of a challenge in the implementation of a well-functioning trade mechanism. including.
"We want to badure Ghanaian farmers and all stakeholders that the new mechanism is considered the official trading system and that we will be selling at a cost to our farmers and for the sustainability of the cocoa industry," added the press release. .
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