Business News of Tuesday, 5 September 2017

Source: starrfmonline.com

China to promote Ghana cocoa

The Chinese company,Genertec, is leading a campaign by COCOBOD to promote  Ghana's cocoa in China The Chinese company,Genertec, is leading a campaign by COCOBOD to promote Ghana's cocoa in China

A Chinese multi-billion dollar company, Genertec, is leading a campaign by the Ghana Cocoa Board (COCOBOD) to promote the consumption of Ghana cocoa in China.

Genertec is on a concerted drive to drum home the need for the Chinese populace to accept Ghana cocoa as the best in the world.

Junfu King, MD of Genertec gave the assurance when his company and COCOBOD marked 10 years of impressive collaboration after the Ghanaian outfit supplied the former with cocoa beans as a means of payment for the construction of the Bui Dam.

He was optimistic that although the Chinese middle class had developed taste for exotic wine, there was hope that chocolate and cocoa products could penetrate the market.

His optimism about the middle class developing the taste for wine has to do with the fact that with promotion the middle class will accept cocoa just as they have accepted wine which hitherto was not the case.

On his part, the Chief Executive of COCOBOD, Joseph Boahen Aidoo, stressed on the need to use cocoa to build new linkages between the West African country and the Asian giants.

Stressing on the health benefits of consuming cocoa, the COCOBOD Boss said “there is the need to look cocoa beyond chocolate. People love chocolate, but not because of the sugar but the cocoa which has a lot of health benefits”.

He disclosed that COCOBOD was in China to partner Genertec in promoting cocoa products which Asia has not fully taken advantage of as well as the need for China to take advantage of the huge amount of money in the cocoa value change which is largely centered in America and Europe.

The COCOBOD CEO is in China together with his deputy in charge of Finance and Administration, Dr. William Mensah, Director of Finance, Peter Osei Amoako and other Managers.

COCOBOD is projecting to increase significantly production in the value chain and so Mr. Aidoo urged China to take advantage of the new dawn since they are yet to tap into the potential market.

He also talked about the need to be innovative in developing cocoa products to attract people from all walks of life, especially those with sugar related problems.

“Some persons have been shying away from chocolate, the major product from cocoa because of its sugar content, but with cocoa product that does not have sugar, a lot more people will patronize the cocoa product because of the numerous health benefit”, he added.

He said COCOBOD was seeking partnership with China, especially Genertec in areas of production, processing, marketing and welfare improvements of the farmers. “Production per hectare is one of the lowest in the world and the need to make the unprofitable nature of cocoa farming change”, he said.
He also urged the Chinese to help mechanize cocoa farms as well as support the newly introduced hand pollination.

“We are not oblivious of the market situation as higher production affects cocoa price negatively. But with increase in the market size such as China, the price will not be affected”.

He invited other Chinese investors to get involved in the President’s drive to process over 50% of cocoa in Ghana by setting up processing factories in both Ghana and China.

He also mentioned the need to look at productions for pharmaceuticals and Chinese scientists to explore and take advantage of Ghana’s cocoa, which is the benchmark of quality cocoa, adding “let cocoa drink be the new lifestyle.”