Côte d’Ivoire hits back after US plans new cocoa tariffs
Côte d’Ivoire says chocolate could become more expensive after the United States announced new tariffs on cocoa from the West African country.
The U.S. plans to charge 21% more on cocoa imports from Côte d’Ivoire. This is the highest tariff among all West African countries affected. The U.S. says the new tax will begin in 90 days.
Côte d’Ivoire is the second-largest cocoa producer in the world. The country sends between 200,000 and 300,000 tonnes of cocoa to the United States each year for the production of chocolate, among other things.
Côte d’Ivoire’s agriculture minister, Kouassi Adjoumani, warned that the country could raise the price of cocoa in response to the new U.S. tariffs. He said this would lead to higher chocolate prices for everyone.
“When you tax our product that we export to your country, we will increase the price of cocoa and that will have a repercussion on the price to the consumer,” he was quoted by the NorthAfrica Post.
The country already plans to cut cocoa exports because of poor harvests.
Heavy rains have hit cocoa farms two years in a row, damaging crops. Many farmers are also struggling with a disease called Cocoa Swollen Shoot Virus, which has reduced cocoa harvests by up to half in some areas.
Cocoa is very important to Côte d’Ivoire’s economy. It brings in about half of the country’s export income and gives jobs to one in five people in the country.
Experts believe Côte d’Ivoire may increase its cocoa export tax to deal with the new U.S. tariffs, which could push global cocoa prices even higher.
