ADDIS ABABA – Ethiopia, Africa’s top coffee producer, has obtained 327.87 million US Dollars after exporting 86, 288 tons of coffee in the first quarter of the current 2021/22 fiscal year.
Both the revenue and volume have both surpassed the targets the country set for the period by $89 million and 15, 000 tones, respectively, reports the Ethiopian Coffee and Tea Authority on Thursday.
As compared to the same period of the previous fiscal year, the volume and value the exported coffee also grew by 32, 845 tons (61.46%) and $143.08 million (77.43%) , respectively.
Top 10 Destinations
The Authority has put Germany, Saudi Arabia and the United States as top three destinations for Ethiopian coffee during the three-month period, which started on July 8, 2021.
Accordingly, Germany imported a total of 21, 336 tone (25 percent of the total) coffee from Ethiopia, resulting in $66.78 million (20 percent) in revenue.
More than 12, 380 tones (14 percent) of coffee have also been exported to Saudi Arabia in the same period, bringing in $40.83 million (12 percent) revenue.
The United States, on the other hand, imported 7, 739.54 tones (12 percent) of Ethiopian coffee, and paid $39.49 million (12 percent) for the East African nation.
Belgium, Japan, South Korea, Italy, China, France and Australia rank from 4 to 10 as top 10 destinations for Ethiopian coffee in terms of revenue generated.
‘A Boost to Export Trade’
Overall, the Authority reports Ethiopia has exported a total of 88, 920 tons of Coffee, Tea and Spices in the first quarter of the ongoing budget year and obtained $333.5 million.
The performance has shown an impressive records with both the export volume and value exceeding the target set for the three-month by 14, 220 tone and 88 million US dollars, respectively.
The East African nation planned to collect 245.7 million US dollars after exporting 74, 700 tons of the commodities in the period.
“This revenue will significantly support the foreign exchange earnings of country’s export trade,” says the Authority. “It is also an indication of the bright future the export trade has,” it says
The Authority has attributed the overall positive export performance to the recent policy reform and “the sincere efforts” of the exporters, growers, supplier and sector actors at all levels.