Addis Ababa, May 15/2020(ENA) Ethiopia has secured 104 million US dollars revenue from the export of coffee in the preceding month amid COVID-19 outbreak across the globe, Coffee and Tea Development Authority Announced.
Briefing Media on the current coffee developments and performance, Deputy Director-General of the Authority, Shafi Umer said the coffee policy reform implemented currently helped the country to absorb extra revenue.
The authority was planning to earn 96 million U.S. dollars from the export of coffee in April but managed to secure over 100 percent due to the recently introduced coffee policy, he said.
The reform, which enabled coffee farmers, growers and cooperative unions to export their coffee production directly to the international market without intermediaries, has contributed to the increase of the revenue, he added.
The Deputy Director-General indicated that efforts that are being done to promote Ethiopian Coffee, particularly during the international cup of excellence competition, have helped to get higher price and improved revenue.
Moreover, the COVID-19 posed lockdowns in many countries has also contributing a lot to the increasing demand of Ethiopia’s coffee in the global market, Shafi stated.
Ethiopian coffee growers also benefited from better prices after following higher demands for coffee Arabica in the market.
It is to be recalled that Ethiopia has managed to generate over 92 million USD from its plan to secure 97 million USD in March.