Ethiopia earns over US$1.1 billion from coffee export in last 11 months

Ethiopian has earned over 1.1 billion U.S. dollars in revenue from the export of coffee in the past 11 months, the Ethiopian Coffee and Tea Authority has said.

The East African country generated about 1 billion dollars from the export of 183,000 tons of coffee during the first 10 months of the current 2022/23 Ethiopian fiscal year that started on July 8, state-run Ethiopian News Agency (ENA) reported, quoting Director General of the Ethiopian Coffee and Tea Authority Adugna Debela as saying on Tuesday.

In May, Ethiopia generated about 150 million dollars from the export of over 27,000 tons of coffee, taking overall export revenue over the past 11 months to about 1.15 billion dollars in total, according to figures from the authority.

During the previous 2021/22 Ethiopian fiscal year, the East African country posted a record 1.4 billion dollars in revenue from the export of about 300,000 metric tons of coffee into the global market.

“By the end of June, we hope that the nation will achieve a similar amount of export revenue as that of last year,” Debela said.

Citing global challenges as the main reason for exporting less coffee this year, as compared to the previous year, Debela said Ethiopia was able to compensate by raising the quality of its coffee.

“We are providing coffee that can withstand the price volatility of the global market,” he said. “This fiscal year, the price of coffee in the global market has decreased but the price of Ethiopian coffee has increased due to the increase in quality.”

Debela said Ethiopia will further boost its coffee export in the coming fiscal year by exporting quality coffee to more market destinations.

Ethiopia, which is known as the origin of Arabica coffee, is widely recognized for its rich coffee quality and flavor, which ranges from winy to fruity and chocolatey, making its coffee varieties on demand across the globe. Enditem