Ghana Cocobod formally signs annual PXF
The Ghana Cocoa Board (Cocobod) has formally signed its main annual pre-export financing (PXF) for the 2013/2014 cocoa crop season. The PXF has rumbled on over the past three months with final signing for an amount of $1.2 billion taking place on 20 September. The facility was initially heavily oversubscribed, but the arrangers scaled back offers under instruction from Cocobod who elected to only take $1.2 billion.