Ethiopia’s coffee exports generate over 1.4 billion USD in revenue

On Jul 17, 2024 236

Addis Ababa, July 16, 2024 (FBC) – Ethiopia has earned 1.43 billion USD from coffee export during the recently concluded fiscal year.

In a press conference detailing the authority’s performance over the past year, the Ethiopian Coffee and Tea Authority stated that the revenue has been secured by exporting over 298,000 tons of coffee to various countries during the stated period.

The authority’s Director-General, Adugna Debela, highlighted significant improvements in both the quality and quantity of coffee exports.

He said these enhancements have led to a substantial increase in foreign trade revenue.

Notably, the volume of coffee exported this year showed an impressive increase of 50,500 tons compared to the previous fiscal year, Adugna revealed.

This growth is attributed to concerted efforts to improve coffee quality and boost productivity across the sector, according to the director-general, according to the director-general.

One of the most significant achievements reported was the dramatic increase in farmers’ income from coffee production. Through strategic interventions in the supply chain, the authority managed to raise farmers’ share of profits from 40 percent to an impressive 80 percent.

This was accomplished by shortening the marketing chain and enabling farmers to sell their produce directly to central markets, thereby eliminating intermediaries and increasing farmer benefits, Adugna added.

According to him, the success of Ethiopia’s coffee sector this year underscores the country’s commitment to maximizing the potential of its renowned coffee industry.

By focusing on quality improvements, increased productivity, and fair compensation for farmers, Ethiopia continues to strengthen its position in the global coffee market.

This remarkable performance in coffee exports is expected to have a positive impact on the country’s economy, providing a substantial boost to foreign exchange earnings and improving the livelihoods of millions of Ethiopian coffee farmers.