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Ethiopian coffee export earnings up 19% on year, but still missing target

Ethiopia

Ethiopian coffee exports reached 55,825 tons during the first three months of Ethiopian fiscal year 2017/18 that started on July 9.

According to a press statement from the Ethiopian Coffee and Tea Development and Marketing Authority (ECTDMA), the coffee export revenue rose almost 19% on year to US$215 million.

However, this is less than the Authority’s target of 56,550 tons and US$245 million.

The authority plans to earn 1.1 billion dollars from the export of 270,000 tons of coffee during the 2017/18 fiscal year.

Germany, Saudi Arabia, the United States, Belgium, Sudan and South Korea are among the top importers of Ethiopian coffee, accounting for close to 86 percent of the total coffee exported from Ethiopia, according to the authority.

ECTDMA said earlier that it earned 866 million dollars from coffee export during the fiscal year 2016/17 that ended July 8.

Coffee is Ethiopia’s single largest export revenue earner, accounting for 25 percent of the east African country’s export revenues.