ADDIS ABABA – The Ethiopian Coffee and Tea Authority announced that the country has earned over 716 million USD from coffee exports over the past eight month of the current fiscal year.
Authority’s Public Relations and Communication Director Sahlemariam Gebremedhn told the Ethiopian Press Agency (EPA) that the country has amassed about 716.35 million USD from 150,430.55 tons of coffee export to the international market in the stated same period.
Reminding the country’s plan to obtain 1 billion USD exporting 211,370 tons of coffee to the international market in the same stated period of the fiscal year, he said the performance reaches 67% the target.
Compared to the last same budget year, he said, adding that this year’s export volume exceeds 7,228.78 ton. Consequently, there is a slight decrease due to the decreasing volume of the global coffee market.
He said, “It secured about 88.64 million USD from 19,245.90 tons of coffee last February. Thus, it shows a slight difference compared to the same period. Saudi Arabia, South Korea, America, Germany, Japan, Belgium, China, Sudan, UAE, Italy are the main Ethiopian coffee destination countries.”
Most importantly, he said that the products exported to major Ethiopian coffee destination countries accounted for 80% of the total coffee trade and 79% of the total revenue.
“The country earned 152.36 million USD exporting 37,614.41 tons of coffee to Saudi Arabia, which is the leading buyer of Ethiopian coffee,” he remarked.
In the similar note, it has secured 72.84 million USD by exporting about 12, 583.89 tons of coffee to South Korea. Besides, it has managed to hit 60.27 million USD exporting 9,438.15 tons of coffee to America.
The director also indicated that they are currently undertaking multifaceted undertakings to enhance the quality and productivity with a view of generating more revenue.
BY ASHENAFI ANIMUT
THE ETHIOPIAN HERALD FRIDAY 29 MARCH 2024
