Thursday 09 February 2023

Ethiopia earned over half a billion dollars from coffee exports in four months

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ADDIS ABABA, Ethiopia – Ethiopia has earned 526 million USD from coffee export during the first four months of Ethiopian current fiscal year, reports the Ethiopian News Agency quotiding the Ethiopian Coffee and Tea Authority. The Authority has recently held consultations with coffee experts of several countries including Colombia and Spain.

During the occasion, Director General of the Authority briefed the participants about the four month performance of coffee production and marketing activities of the country.

According to him, the nation has earned 526 million USD from coffee export during the first four months of the fiscal year.

The export performance registered during the stated period has shown an increase of 126 million USD compared to the previous fiscal year same period, he added.

Noting Ethiopia has planned to export 810,000 tons of coffee to the international market to obtain 2 billion USD during the current fiscal year, the Director General stated the performance so far registered is encouraging.

It is to be recalled that Ethiopia had obtained a record-hit 1.4 billion USD from coffee export during the previous Ethiopian fiscal year that was concluded on the 7th of July, 2022.

The nation earned 1.4 billion USD by exporting 300,000 tons of coffee to the international market.

It was indicated during the occasion that Germany is the largest buyer of Ethiopian coffee, followed by United States and Saudi Arabia.

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