Ethiopia has obtained a record-hit 1.5 billion USD from coffee export during the past nine months, Ethiopian Coffee and Tea Authority (ECTA) disclosed.
The export revenue has become one of unprecedented records in terms of volume and revenue since the east African nation started exporting coffee to the global market.
Briefing the media today, Director General of ECTA, Adugna Debela stated that the country’s plan for the stated period was to secure 1. 094 billion by exporting 201,959 tons of coffee.
Adugna affirmed that the country has achieved a historic milestone in the coffee sector by securing more than 1.5 billion USD during the past nine months by exporting 299,607 tons of coffee.
Accordingly, the country has achieved 138 percent of the plan in coffee export.
For the Director General, the reform initiatives undertaken by the government played a crucial role for the coffee sector to register the stated historic achievement in nine months.
Accordingly, the reform endeavors have been particularly focusing on increasing quality, production and productivity.
Saudi Arabia, Germany, USA, Belgium, China, South Korea, UAE, Japan, Italy and Jordan are the top 10 destinations of Ethiopia’s coffee export which cover 77 percent of the volume and 78 percent of export revenue, it was indicated.
Recall that by the end of the last Ethiopian budget year, the country, which is the origin of coffee Arabica, earned more than 1.4 billion USD from its coffee export.
The country plans to earn 2 billion USD from coffee export in the current Ethiopian budget year by exporting more than 400,000 tons of coffee, it was indicated.
Source: ENA
