ADDIS ABABA- Coupled with the decrease of exported coffee, he falling coffee price in world market has cause the decrease in the revenue of coffee. The government is also striving to address the gap by helping farmers to produce more quality coffee that can yield increased revenue from export.
The Ethiopian Coffee, Tea and Spices Development and Marketing Authority disclosed that the country has earned 340.53 million USD from coffee, tea, and species exported within six months in this fiscal year. According to a performance report issued by Authority, the country planned to export 131,445.71 tons of coffee and expected to earn 475.10 million USD within six months, while the actual performance of coffee export is 103,107.96 tons and it could be generate 333.94 million USD.
The report indicates that the amount of coffee exported and income generated from the crop become decrease during the past six months. Representative Director with Market Information and Supervision at the Authority Dawit Yitagesu on his part said that the reduction of world coffee price is the major serious factor that hinder to earn more currency from coffee crop. In order to solve the problem, the authority is working towards enabling farmers to produce quality coffee and expand emerging market (new markets) in the country.
It is playing decisive role that to realize the intended goal in Ethiopia. On the other hand, 278 private limited companies (PLC) were involved on coffee exported in this six months. Among these, Qerechanshe PLC, Tirakon PLC, and Adem Kedir Haji are the major coffee exporters that they share a rank of one up to three in terms of income earned, accordingly. Fitsum further stated that the country also income generated from species.
In this regard, Ethiopia has exported close to 4,400 tons of spices exported generating 5million USD during the last six months. On the other hand, India, Sudan, and Indonesia countries are the major destination of Ethiopian spices, while these countries have taken 1.44 million USD,0.701 USD, and 0.59 million USD through income generated respectively. In the last six months, the country earned 1.65 million USD from 984.12 tons of tea exported.
Compare to its plan, it reduced by 34.73 percent in amount and 46.49percent in terms of income generated. Britain, Pakistan, and Kenya are countries that have leading Ethiopian tea destination, while they earned 0.63million USD, 0.55million USD, and 0.454million USD respectively.
Compared to the last similar year six months work performance period, coffee exported reduced by 4,194.67 tons in amount and -47.90 million USD through income generated. While species increased by 149.01 tons in amount and reduced by 0.97 million USD through income generated. Concerning tea, it reduced by 92.87 tons in amount and 0.48million USD in income earned.
Herald January 19/2019
BY MESERET BEHAILU
