ADDIS ABABA Ethiopia, Africa’s top coffee producer, is targeting to get a record-high one billion US dollar revenue from Coffee export in the 2021/21 fiscal year, which started on July 8.
The country set the target after securing a record-high 906 Million US Dollars from 248, 000 tonnes of coffee exported in the previous 2020/21 budget year.
Briefing reporters on Thursday, officials of Ethiopian Coffee and Tea Authority (ECTA) revealed that the country is expecting to export 280, 000 tonnes of coffee in the current fiscal year and obtain one billion US dollars. Coffee is Ethiopia’s most important export.
The target seems within reach with the country’s monthly revenue from coffee export increasing at a record rate for the past four consecutive months, according to data from the Authority.
Authorities also attributed the recent hike in value to the introduction of coffee policy and a reform the government took in the sector, which allows coffee farmers, growers and cooperative unions to export their product directly to the international market.
Ethiopia prides itself on being the birthplace of coffee. Some 15 million smallholder farmers grow the crop, mostly in forested highlands in the west of the country.