Pulse.com.gh logo
Go


Cocoa Economy COCOBOD to increase cocoa purchases in 2016/2017 season

This brings COCOBOD’s total target for purchases for the 2016/2017 crop season to 900,000 tonnes, and at an average price of 3,100 dollars per metric tonne, bringing total revenue after sales to 2.79 billion dollars.

  • Published: , Refreshed:
Ghana Cocoa play

Ghana Cocoa

After parliament approved the Ghana Cocoa Board’s 2 billion Syndicated Loan for the 2016/2017 crop season, the board has decided to increase its cocoa purchases for the season in question, by 50,000 tonnes.

This brings COCOBOD’s total target for purchases for the 2016/2017 crop season to 900,000 tonnes, and at an average price of 3,100 dollars per metric tonne, bringing total revenue after sales to 2.79 billion dollars.

READ MORE: Cocoa Syndicated Loan COCOBOD defends $20,000 expenditure on venue

Having succeeded with the first step, which is the approval from parliament, COCOBOD is now set to engage a consortium of banks in an attempt to raise the syndicated loan of 2 billion dollars.

The institutions include Deutsche Bank, Natixis of France, Nedbank Limited of South Africa, Standard Chartered Bank, Societe General, The Bank of Tokyo-Mitsubishe UFJ Limited, with the DZ Bank AG of Germany as Co-Arranger.

The approval from parliament however did not come easy, as questions were raised about certain expenditures made by COCOBOD using last year’s syndicated loan of 1.8 billion dollars.

Prominent amongst the concerns of the minority in parliament was the $20,000 dollars spent in renting a venue for the signing ceremony.

 

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Police arrest 6 Menzgold customers trying to lock up Zylofon officebullet
2 How to create a verified PayPal account Learn how to create a verified...bullet
3 Capemay Properties unveils 209 Signature Apartmentsbullet
4 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
5 How to write a memo How to write a memo like a probullet
6 1D1F: Nana Addo commissions diaper making factory in Bortianorbullet
7 Menzgold suspends online trading; ask staff to go on leavebullet
8 GRA to begin taxing churches on anointing oil and holy waterbullet
9 How to create an NGO in Ghana How to register and start...bullet
10 PR Dear Menzgold customers, here are 8 key things...bullet

Top Videos

1 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
2 Forbes 2018 Africa's billionaires rich listbullet

Business

X
Advertisement