Dubai: The Cocoa Marketing Company (CMC) Ghana Limited has successfully secured firm offtake commitments from the United Arab Emirates and the Kingdom of Saudi Arabia for Ghana's semi-finished cocoa products. This development marks a significant step in the country's strategy to enhance domestic value addition under President John Dramani Mahama's mandate to increase local processing to 50 percent.
According to Ghana Web, CMC's Managing Director, Dr. Wisdom Kofi Dogbey, played a pivotal role in securing these commitments through strategic engagements with key commodities institutions and processing bodies in the Gulf region. The agreements aim to ensure a steady demand for cocoa liquor, butter, cake, and powder, leveraging Ghana's existing but underutilized grinding capacity.
The statement from CMC highlighted that by securing buyers ahead of increased production, the company is addressing one of the critical commercial challenges: converting higher domestic grindings into guaranteed export earnings rather than surplus stock. During his visit to Dubai, Dr. Dogbey met with leaders from the Dubai Multi Commodities Centre's (DMCC) coffee and tea sector. The discussions centered around creating a dedicated DMCC cocoa membership, which would serve as a model for integrating Ghana's cocoa into regional value chains.
Ahmad Hamza, a senior executive at DMCC, welcomed the initiative to expand cocoa exports into the UAE, describing it as mutually beneficial. He explained that DMCC provides an ideal ecosystem for its members, showcasing the successful integration of raw materials into consumer goods through its coffee and tea operations. Hamza emphasized that replicating this model for cocoa could significantly enhance the export of Ghanaian cocoa derivatives, connecting them with DMCC's established network of processors and traders.
For Ghana, the partnership with DMCC not only promises to diversify its customer base, traditionally focused on European grinders, but also offers access to broader Middle Eastern and Asian markets. This move is set to fortify CMC's position in negotiating origin premiums and differentials, further strengthening the commercial prospects of Ghana's cocoa sector.