World’s top cocoa producer warns rates increase in reply to US tariffs
(MENAFN) Ivory Coast, the world’s largest cocoa producer, has threatened to raise cocoa prices in retaliation to new U.S. tariffs introduced by President Donald Trump, Reuters reported on Thursday.
The 21% tariff — the highest rate imposed on any West African nation — targets exports from Ivory Coast as part of a broader effort by the U.S. administration to reduce trade deficits. While the tariffs were scheduled to take effect on April 9, Trump announced a 90-day delay for all affected countries except China.
Speaking in Abidjan, Ivorian Agriculture Minister Kobenan Kouassi Adjoumani urged Washington to reconsider the move, warning that the country could respond by increasing cocoa prices.
“If you tax our exports, we will raise cocoa prices, which will ultimately affect consumers,” Adjoumani said. “The end consumer will bear the burden,” he added.
Ivory Coast exports between 200,000 and 300,000 metric tons of cocoa to the United States annually, according to the Coffee and Cocoa Council (CCC). While cocoa prices are set on global markets, Ivorian authorities are considering higher export taxes to boost national revenue— a move that could raise international chocolate prices.
In response to the U.S. measures, the West African nation is also exploring ways to diversify its cocoa trade. On Thursday, Adjoumani said Ivory Coast will deepen ties with the European Union to secure alternative export markets if the U.S. no longer accepts its cocoa.
This comes at a time when the global cocoa industry is already under strain. Poor harvests in Ivory Coast and Ghana — the second-largest cocoa producer — caused by climate change and crop diseases led to a price spike in 2024, with cocoa reaching nearly $13,000 per ton. Prices have since dropped by over 30% in 2025, according to Anadolu Agency.
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