A financial analyst and economist Scott Bolshevik has described the Ranking Member of Parliament’s Economy and Development Committee Kojo Oppong Nkrumah’s comment regarding potential tariffs on Ghana’s cocoa exports to the US as "fear-mongering”

According to him, these fears allayed by the Ofoase Ayirebi lawmaker are misplaced, stating that Ghana’s cocoa export share to the US is just 10 percent of the total cocoa exports, or about 4.5 percent of Ghana’s overall exports.

Oppong Nkrumah recently raised concerns about the impact of a possible 10% tariff on Ghana’s cocoa exports, claiming it would significantly harm the country's economy.

This sparked widespread conversations, as experts argue that the lower tariff on Ghanaian cocoa gives it a competitive edge in the US market over its Ivorian counterpart, making his concerns overblown.

In a post shared on his X page, as sighted by GhanaWeb Business, Bolshevik pointed out that Ghana’s cocoa exports are far more heavily reliant on the Netherlands, which takes in 35% of the nation's cocoa, suggesting that the potential tariff would have a less dramatic impact than suggested.

“Ghana exports cocoa to 8 nations. Netherlands leads with 35%, the US is just 11%. The US takes 4.5% of Ghana's overall export” he posted.

Comparing Ghana to neighbouring Côte D'ivoire, Bolshevik said, Côte D’ivoire already faces a 21% tariff on its cocoa exports to the US at a much higher rate.

Despite this, Côte D’ivoire has continued to be a strong competitor in the global cocoa market, leaving room for Ghana to absorb a 10% tariff and remain competitive, particularly with its relatively smaller share in the U.S. market.

“Now Côte d’Ivoire has 21% tariffs on cocoa to the US, so a 10% tariff on Ghana cocoa exports is advantageous,” he pointed out.

He, however, asserted that Ghana's cocoa industry is in a much better position to handle the risks of tariffs than previously suggested, labelling Oppong Nkrumah’s views as misleading.

SP/MA

Ghana exports cocoa to 8 nations. Netherlands leads with 35%, US is just 11%. US takes 4.5% of Ghana overall export.

Now Côte d’Ivoire has 21% tariffs on cocoa to US, so a 10% tariff on Ghana cocoa exports is advantageous.

Kwadjo Oppong’s fear-mongering on tariffs is misplaced. pic.twitter.com/cZB7th0zKr

— Scott (@scottbolshevik) April 9, 2025