Ethiopia secures more than 1.3 billion USD from coffee export

Addis Ababa, July 11, 2023 (FBC) – Ethiopia has secured more than 1.3 billion USD during the concluded budget year by exporting 240,000 tons of coffee. The nation’s plan was to secure 1.8 billion USD during the stated period.

Despite all the challenges the coffee market faced at the global level, the revenue gained is almost closer to the last year’s achievement which was 1.4 billion USD, according to Ethiopian Coffee and Tea Authority.

Promoting coffee in the global market, reform activities undertaken aimed at ensuring the benefits of framers and penetrating into new markets were some of the major players for the revenue obtained.

The efforts being taken to curb illegal coffee trade by developing software and strengthening coordination works with stakeholders were also among the measures undertaken during the just concluded Ethiopian fiscal year.

The country managed to export 300,000 tons of coffee last year and secured about 1.4 billion USD, ENA reported.

Coffee is critical to Ethiopia’s economy, generating 24 percent of the nation’s export income as USA, Japan, Saudi Arabia, Belgium, and Germany are major export destinations.

Recall that Ethiopia is the birth place of coffee Arabica and contains nearly fifth of all coffee farms around the world.