Ethiopia Obtains Record Annual Revenue of $906 million From Coffee Export

ADDIS ABABA – Ethiopia, Africa’s top coffee producer, has secured 906 Million USD from coffee export in the 2020/21 budget year, which ended on July 7, 2021.

In a statement Saturday, Ethiopian Coffee and Tea Authority (ECTA) announced that the country exported a total of 248, 000 tonnes of coffee to the international market to generate what its director general said a record annual revenue collected from the sector.

The revenue has shown over 50 million US dollar increase as compared to the previous 2019/20 fiscal year, during which Ethiopia collected 854.21 million US Dollars from the sector.

“The value is a record high that Ethiopia has registered ever,” Director-general of ECTA. Adugna Debela, said. “The commitment we took and the responsibility we paid brought us to this end”.

The Authority and Ministry of Agriculture “are very much thrilled to see that this fiscal year (2021) is concluded with a total coffee export of 248,000 tons and a value of 906 million USD,” Adugna said in a message posted on his social media page.

The annual performance was accompanied by the record increase in monthly revenue for the past four consecutive months, according to the Authority.

In the Month of Sene, which runs from June 8 to July 7, Ethiopia obtained a monthly record high 150 million US dollars revenue after exporting 41, 000 tonnes of coffee to the international market, said the ECTA in a statement issued Saturday.

The amount has shown a 20 million US dollars growth from the previous record revenue registered in a month. Ethiopia set the previous record in the month of Ginbot, that runs between May 9 and June 7, this year, after exporting 32, 669 tonnes of coffee.

Overall, the Agriculture Minister Oumer Hussien also expressed his delight about the value the coffee sector generated during the concluded fiscal year.

“I remain indebted to all who put their stake in this spectacular achievement” he said.

Authorities also attributed the recent hick in value to the introduction of coffee policy and a reform the government took in the sector. The reform allows coffee farmers, growers and cooperative unions to export their product directly to the international market without intermediaries.

Ethiopia is the fifth-largest coffee producer and exporter in the world.