Ethiopia earns over $615mln from coffee export in 5 months

Addis Ababa, December 20, 2022 (FBC) – More than 615 million USD has been earned from coffee export over the past five months, according to the Ethiopian Coffee and Tea Authority.

The Authority’s Deputy Director-General, Shafi Oumar said that the foreign currency was obtained by exporting over 109,000 tons of coffee to the international market.

The revenue earned in five months shows an increase of 100 million USD when compared to same period of the last Ethiopian fiscal year.

Germany, Saudi Arabia, Belgium, Australia and Japan are among the market destinations of Ethiopian coffee, he added.

According to the deputy director-general, Ethiopia has expanded its destination markets of coffee to China and Indonesia.

The new markets have helped the nation to increase its foreign currency earnings, he added.

Shafi  revealed that the nation is working to secure up to 2 billion USD by exporting 360,000 tons of coffee during the current Ethiopian fiscal year.

It is to be recalled that Ethiopia obtained a record-hit 1.4 billion USD from coffee export during the past Ethiopian fiscal year.

The nation earned the hard currency by exporting 302,000 tons of coffee to the international market, as per Ethiopian News Agency (ENA).