ADDIS ABABA – Ethiopia has obtained $417 million dollars from coffee export trade in the last four months, attaining 134% of its target for the period.
Ethiopian Coffee & Tea Authority planned to export 92, 107.4 tons of coffee to the international market and collect over $310 million in the first four months of the 2021/22 Fiscal Year, that started in July 8.
The country, however, has secured $417 million revenue after exporting a total of 108,608.0 tons of coffee, achieving 134% and 118% of its the targets set in terms of value and volume, respectively, the authority said on Thursday.
Comparing the results with the same period of the previous year, the volume of coffee export has grown by 41, 352.1 tones while the revenue jumped by 186.47 million dollars
Top 10 destinations
Germany continues to be the top destination for Ethiopian Coffee during the four month period.
The European has imported 27,874.10 (26%) tones of coffee from the East African nation and paid $90.85 million – which is 22% of the total revenue obtained from coffee export in the period.
Saudi Arabia and Belgium take the second and third places after importing 15,928.77 tones (15%) and 11,023.14 tones (10%) of Ethiopian Coffee and paying 53.4 million dollars and 46.43 million dollars, respectively.
The United States, Japan, South Korea, Italy, China, France and Taiwan, sequentially, make up the remaining tops in the top 10 markets for Ethiopian coffee export trade.
These ten countries have imported 83 percent of the coffee export in the four months, said Ethiopian Coffee and Tea Authority