Cocoa Marketing Company

What Cocoa Marketing Company does

Cocoa Marketing Company (Ghana) Limited (CMC) is a state-owned subsidiary of the Ghana Cocoa Board (COCOBOD) and serves as the exclusive commercial interface between Ghana's cocoa supply and the international market. Founded in 1947 and headquartered in Accra at Cocoa House, CMC operates as the world's largest single seller and exporter of premium cocoa from origin, managing a forward sales programme tied to ICE London benchmarks, structuring contracts, managing counterparty risk, and ensuring delivery performance across dozens of global markets. The company serves multinational chocolate manufacturers, commodity trading houses, and artisanal bean-to-bar producers through direct export channels, alongside a three-tier regulated licensing system comprising Licensed Cocoa Buying Companies (LBCs), Licensed Cocoa Exporters, and Licensed Processors.

CMC's operational platform is anchored by six interconnected services: core Commodities Trading (Cocoa), Warehousing (Take-Over Centers at Tema, Kumasi, and Takoradi, with warehouses at Kejebril and Apowa), Shipping/Logistics, Intra/Inter-Port Haulage, Weighing Systems, and Marine Insurance. The company operates an integrated UK subsidiary (Ghana Cocoa Marketing Company UK Ltd., London) for European market facilitation and maintains partnerships across COCOBOD, Quality Control Company, Ghana Ports Authority, Bank of Ghana, Ghana Standard Authority, CEPS, and the Ship Owners and Agents Association of Ghana. Ghana together with Côte d'Ivoire produces approximately 75% of global cocoa supply, and CMC handles on the order of 500,000-700,000 tonnes per season.

CMC's revenue model is structured around the regulated margin between FOB export prices and the government-set producer price, which is maintained at no less than 70% of FOB price per the Producer Price Review Committee (PPRC). The producer price was increased to GH₵12,800 per tonne (GH₵800 per 64kg bag) for 2022/2023, a 21% increase, and held at GH₵2,587 per 64kg bag for the 2026 light crop season. Working capital is supported by large syndicated trade finance facilities, including a US$1.13 billion pre-export receivables-backed facility for the 2022/2023 season arranged under COCOBOD. Customer engagement is conducted through direct enterprise field sales, with participation in international trade platforms such as China's CIIE to access new geographic markets.

Name

Cocoa Marketing Company

Legal name

Cocoa Marketing Company (Gh.) Limited

Website

https://cocoamarketing.com.gh

Company type

Private

Founded year

1947

Operating status

Operating

Headcount range

11–50 employees

Short description

Cocoa Marketing Company is a Ghana state-owned subsidiary of COCOBOD that serves as the exclusive commercial interface for Ghanaian cocoa exports, operating forward sales tied to ICE London benchmarks. It serves multinational chocolate manufacturers, commodity trading houses, and artisanal producers, handling approximately 500,000-700,000 tonnes annually as the world's largest single origin cocoa seller.

Ownership category

akta.pro rank

Product category

Cocoa Commodity Trading and Export

NAICS

Wholesale Trade Agents and Brokers (4251)

SIC

Commodity Contracts Brokers & Dealers (6221), Wholesale-Groceries & Related Products (5140)

akta.pro primary industry

Coffee, Tea & Cocoa Trading/Wholesale (AFAIAKAD)

Keywords

• Cocoa export services
• Cocoa commodity trading
• Cocoa warehousing logistics
• Cocoa shipping logistics
• Cocoa supply chain management

Headquarters

HQ city

Accra

HQ country

Ghana

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Cocoa Export and Trading: CMC serves as the exclusive commercial interface for Ghana's cocoa exports to international buyers, managing forward sales contracts, price risk management tied to ICE London benchmarks, and delivery performance across global markets. Revenue is generated through the margin between FOB export prices and the regulated producer price paid to farmers.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Cocoa Marketing Company (CMC) is the world's largest single seller and exporter of premium cocoa from origin, functioning as the exclusive commercial interface between Ghana's cocoa supply and the international market. It manages a forward sales programme tied to ICE London benchmarks, structuring contracts, handling counterparty risk, and ensuring delivery performance across global markets. Operations are anchored by cocoa commodities trading, with supporting warehousing at Take-Over Centers (Tema, Kumasi, Takoradi) and warehouses (Kejebril, Apowa), shipping and logistics coordination, intra-port and inter-port haulage, weighing systems, and marine insurance coverage for international shipments.

Product overview

Cocoa Marketing Company (CMC) is the world's largest single seller and exporter of premium cocoa from origin, operating a vertically integrated commodity trading and logistics platform. The company offers a portfolio of six interconnected services: Commodities Trading (Cocoa) as the core offering, supported by Warehousing, Shipping/Logistics, Haulage, Weighing Systems, and Marine Insurance. CMC functions as the exclusive commercial interface between Ghana's cocoa supply and the international market, managing forward sales tied to ICE London benchmarks, structuring contracts, managing counterparty risk, and ensuring delivery performance across global markets. The company operates a three-tier licensing system with Licensed Cocoa Buying Companies, Licensed Cocoa Exporters, and Licensed Processors, and is governed under the Ghana Cocoa Board (COCOBOD) regulatory framework.

Differentiator

Problem solved

Functional benefit

Products and services

• Commodities Trading (Cocoa) Exclusive commercial cocoa trading and export service, functioning as the interface between Ghana's cocoa supply and the international market. Manages forward sales tied to global price benchmarks (ICE London), contract structuring, counterparty risk management, and delivery performance across dozens of international markets for multinational chocolate manufacturers, commodity trading houses, and artisanal bean-to-bar producers.
• Warehousing Warehouse and port operations including receiving cocoa from Licensed Buying Companies (LBCs), careful stacking using a first-in-first-out system, stack history management for fumigating activities, and coordination during evacuation to locate stock and liaise with Labour Companies.
• Shipping / Logistics Shipping operations including anticipation, preparation, and delivery of cocoa to buyers abroad; preparation of invoices and documentation for cocoa proceeds; and coordination of freight services and port activities.
• Haulage (Intra/Inter-Port) Intra-port and inter-port haulage services for transporting cocoa beans within and between Ghana's ports as part of CMC's logistics operations.
• Weighing Systems Weighing systems for accurate measurement of cocoa beans throughout the supply chain, working with the Ghana Standard Authority to standardize weighing bridges and scales.
• Marine Insurance Marine insurance coverage for cocoa shipments during international transport, supporting risk management across CMC's export operations.

Quantifiable outcome

• Global quality premium maintained through rigorous quality assurance systems at every stage of the pipeline

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered flagship, core and major.

• Sunbeth Global Concepts LimitedflagshipChannel Partner/ Reseller/ Distributor · 16 October 2025First Nigerian company in decades licensed as international buyer of premium cocoa beans from CMC Ghana. Historic partnership strengthening intra-African trade in cocoa.
• Ghana Cocoa Board (COCOBOD)coreStrategic or Co-development PartnerCMC is a subsidiary of COCOBOD, which oversees Ghana's regulated cocoa sector. COCOBOD sets the regulatory framework including producer prices, licensing conditions, and quality standards. CMC functions as the exclusive commercial interface for cocoa exports under COCOBOD's supervision.
• Licensed Buying Companies (LBCs)coreChannel Partner/ Reseller/ DistributorLBCs handle domestic cocoa procurement from farmers under conditions set by COCOBOD regulation. They deliver purchased cocoa to CMC's Take-Over Centers for quality verification and warehousing.
• Quality Control Company (QCC)coreStrategic or Co-development PartnerQCC ensures quality standards are maintained throughout Ghana's cocoa supply chain, working with CMC at Take-Over Centers to verify grade, category, weight, and station marks.
• Ghana Ports AuthoritymajorStrategic or Co-development PartnerFacilitates shipment of cocoa abroad through Ghana's ports. CMC coordinates port activities and logistics through this partnership.
• Ship Owners and Agents Association of GhanamajorStrategic or Co-development PartnerCoordinates freight services and shipping operations with CMC. Essential for cocoa export logistics and vessel coordination.
• Ghana Standard AuthoritymajorStrategic or Co-development PartnerWorks with CMC to standardize weighing bridges and scales, and ensure compliance with quality standards for cocoa exports.
• Custom Excise and Preventive Service (CEPS)majorStrategic or Co-development PartnerHandles customs clearance and regulatory compliance for cocoa exports, working with CMC on documentation and export procedures.
• Industrial and Commercial Workers' Union (ICU) GhanacoreStrategic or Co-development PartnerCMC signed its maiden Collective Agreement with ICU Ghana in March 2026 at Cocoa House in Accra. Covers senior staff who are members of the Professional and Managerial Staff Union (PMSU), strengthening industrial relations and workplace harmony.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Conseil du Café-Cacao (Côte d'Ivoire): Côte d'Ivoire's state cocoa marketing board, structurally identical to CMC: it manages producer pricing, licensing of buyers/exporters, and coordinates offtake to international markets for the world's largest cocoa origin. The two together account for ~75% of global cocoa supply.
• ECOM Trading: Privately-held major cocoa and coffee trader with deep West African origination networks. Comparable to CMC as a cocoa originator and commodity trader supplying international chocolate manufacturers and processors.
• Touton: French-origin commodity trading house specializing in cocoa, coffee, and other tropical commodities, with significant West African sourcing operations. Comparable to CMC in cocoa origination, quality assurance, and export logistics.

Broad incumbents

• Barry Callebaut: World's largest cocoa processor and chocolate manufacturer, sourcing cocoa beans from origins including Ghana and Côte d'Ivoire. Comparable in that it is a major off-taker of CMC's cocoa, though it sits downstream in the value chain as a processor rather than an origin seller.
• Cargill Cocoa & Chocolate: One of the largest global cocoa traders and processors, originating cocoa from West Africa. Comparable as a major institutional buyer of CMC's cocoa and as a peer in the global cocoa commodity trading ecosystem.
• Olam Food Ingredients (ofi): Major global cocoa processor and trader with significant West African origination. A direct comparator in cocoa commodity trading, origination, and supply-chain management, though operating at much broader geographic and product scale than CMC.
• Sucres & Denrées (Sucden): Paris-based commodity trader active in cocoa, sugar, and other soft commodities with significant African sourcing. Comparable to CMC as an institutional player in the global cocoa trade.
• Louis Dreyfus Company: Global merchant and processor of agricultural commodities including cocoa. Comparable to CMC as an institutional commodity trader with cocoa origination and global marketing operations, though far more diversified across commodities.

Emerging players

• Sunbeth Global Concepts Limited: Nigerian agro-commodity company that became the first Nigerian firm in decades licensed to source premium cocoa directly from CMC Ghana in October 2025. Comparable to CMC as an African cocoa buyer and exporter, though at smaller scale and from a different origin.

Others

• Cargill (parent of Cargill Cocoa): While broader than cocoa alone, Cargill's overall commodity trading franchise and African supply-chain footprint make it an ecosystem peer for CMC in cocoa origination, trade finance, and global commodity marketing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/cmc68499204
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Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cocoa Marketing Company