• Ethiopia secures 774.10 mln. USD from export of coffee, tea, spices
BISHOFTU – The Ethiopian Coffee and Tea Authority awarded coffee exporters for better performances during the weekend.
The Authority gave the award for 60 exporters in 12 categories. Due to illicit trade and the decline in global coffee price, the country has been facing challenges ranging from losing billions of dollars from export trade to tax fraud. Legitimate businesses are also being undermined and consumers are being exposed to low-quality products.
The country has been striving to compensate for the loss of foreign currency by significantly increasing the volume of export. Accordingly, the Ethiopian Coffee and Tea Authority has awarded coffee exporters who played a key role in increasing the volume of export.
Takele Mamo, a nominee from Yirga Chefe Farmers Union said that the award is an encouragement to all stakeholders in the coffee business to perform better. Rahel Tsegaye from Gesha Village Coffee State, winner of the awarding in securing a large amount of foreign currency, said her organization has invested a lot in human resource and allocated massive finance to achieve the current success.
She also said she is super excited as the government has recognized their effort. Shafi Oumer, the Authority’s Deputy Director said in the effort to compensate for the foreign currency loss, the country has registered encouraging results in significantly increasing the volume of export in the last budget year.
Thus, having set to export 239,144.60 tons coffee, tea, and spice, Ethiopia has secured 774.10 million USD.
The Ethiopian Herald, August 8/2019
BY LAKACHEW ATINAFU
