Ghana to Earn Extra $60M Annually as US Lifts 15% Tariff on Cocoa Exports
By Praisebell Rosemond Larbi
Tariff withdrawal delivers fresh revenue boost, strengthens rural livelihoods and deepens Ghana–US trade relations.
Ghana is poised to gain an additional US$60 million, approximately GH¢667 million in export revenue every year following the United States government’s decision to remove the 15 percent tariff previously imposed on cocoa and other agricultural exports from Ghana.
The breakthrough was announced on Monday by Minister for Foreign Affairs, Samuel Okudzeto Ablakwa, who confirmed that the tariff rescission, approved under the Trump administration, took effect on November 13, 2025.
The removal instantly increases the commercial value of Ghana’s cocoa beans entering the US market, eliminating the pricing discount that exporters were forced to take in order to remain competitive under the tariff regime. Speaking on the impact, Ablakwa disclosed that Ghana exports an average of 78,000 metric tons of cocoa beans to the US annually.
With global cocoa prices currently hovering around US$5,300 per metric ton, he noted that the elimination of the tariff will directly translate into higher earnings for the country. “With an estimated annual Ghanaian cocoa beans export to the US averaging 78,000 metric tons, and at the current spot price of $5,300/MT, Ghana stands to raise additional revenue of US$60 million (GH₵667 million) each year resulting from Trump’s tariff rescission,” Ablakwa said.
The fiscal impact of the decision is expected to extend beyond government coffers. Analysts predict that more capital will flow into cocoa-growing communities, enabling farmers to improve access to fertilizer, disease control mechanisms, labour, transportation and warehousing services. Export companies are also expected to reinvest in productivity, expand plantation operations and attract more workers as demand from US buyers increases.
The gains extend beyond cocoa alone. Other Ghanaian products that now attract zero tariffs, including cashew, coconut, mango, pineapple and peppers are strong non-traditional export earners that support thousands of farmers and rural families. Industry players anticipate improved prices at the farm gate and a gradual rise in export volumes over the next few seasons due to renewed confidence from international importers.
The expected US$60 million revenue windfall arrives at a critical moment as government intensifies efforts to grow non-oil export receipts and support rural livelihoods in 2026. Ablakwa described the development as both an economic victory and a sign of renewed bilateral cooperation.
“Ghana welcomes this positive development from the US, which is the world’s leading importer of chocolate and cocoa products. Ghana and the USA will continue to forge closer and mutually beneficial relations,” the Minister for Foreign Affairs said.
According to government officials, the tariff removal demonstrates the tangible impact of strategic diplomacy, and carries the potential to reshape lives across the cocoa belt. As Ablakwa put it, the decision represents “more than a diplomatic success; it is money that can transform farms, families and entire communities.”
