coffee beans

Ethiopia Obtains $125.8mln from Coffee, Tea, Spice Exports In A Month

ADDIS ABABA – Coffee, Tea and Spice exports generated more than 125.8 million US Dollars revenue in a month starting from August 7 to Sept 5, 2021, revealed Ethiopian Coffee and Tea Authority.

The country planned to obtain 99.3 million US dollars after exporting 29, 819 tons of the commodities in the second month of the current 2021/22 fiscal year – August.

It, however, managed to collect 125.82 million US Dollars during the 30 days period, said the Authority in a statement issued on Wednesday.

The amount has been earned from exporting 33,169.45 tons of coffee, tea and spices.

Authority achieved both its export target and revenue for the period by 111 percent and 127 percent, respectively, according to the statement.

Revenue rising

In the first two months of the 2020/21 fiscal year alone, Ethiopia has obtained 242.45 million US dollars after exporting 65,108.56 tones of coffee, tea and spices.

Compared to the performance of the same period of the previous year, the Authority said both the value and the volume of the commodities have shown 23,829.30 tons and 242.45 million birr increase, respectively.

Coffee Dominates 

The East African nation planned to export 49,795.50 tons of coffee and obtain 169.53 US dollars.

The country, however, managed to surpass its targets and earned 238.6 million US dollars in total the two month period.

The revenue has been collated from exporting 63,180.95 tons of coffee, according to the Authority.

Both the volume and value have shown 24,169 and 101.96 million US dollar raise, respectively, putting the country on track to achieve its target of pocketing a billion US dollars from Coffee export this year.

In terms of volume, Germany (25%) has been the top destination for Ethiopian coffee followed by Saudi Arabia (14%) and the United States (10%).