Nation Secures Over 1 Bn USD from Coffee Export

141

May 16/2022 /ENA/ Ethiopia has earned 1.014 billion USD from coffee export over the last ten months, Coffee and Tea Authority revealed.

Briefing journalists today Coffee and Tea Authority Director General, Adugna Debela said the performance registered has an increment of 400 million USD compared to the same period last year.  

According to the director-general, the achievement is remarkable in the history of Ethiopia’s coffee export trade.

The measures taken to shift commercial coffee market to specialty coffee market and the rise of coffee price in the international market are key factors that contributed to the revenue secured during the stated period, he added.

The director-general further stated that the share of Ethiopia’s specialty coffee in the international market increased from the previously 35 percent to 60 percent. Some 232,000 tons of coffee has been exported over the last ten months.

According to the director-general, the ten months’ performance has shown 40 percent increment in volume of coffee and over 60 percent in revenue as compared to the same period of the previous year.

Coffee and Tea Authority Deputy Director General, Shafi Ummer on his part said that the mechanism put in place to effectively curb illegal activities within the chains of coffee export trade has played crucial role to the encouraging achievement in the sector besides the strong collaboration established with pertinent stakeholders.

The authority has been working to find new international markets in addition to enhancing its promotion activities in permanent international destinations, noting that Germany, North America, Belgium, Japan, South Korea, Italy, France, China and Taiwan are the major Ethiopian coffee export destinations.

The deputy director-general pointed out that there is a plan to further expand the Ethiopian coffee markets to Russia and Asian countries.

It was learned that the authority planned to export up to 300,000 tons of coffee till the end of the fiscal year.