ADDIS ABABA – Ethiopia’s six-month coffee export revenue grew by $274 million to more than half a billion US dollars in the first half of the current 2021/22 fiscal year, says Authority.
The country secured $578 million in revenues after shipping 148, 882 tn coffee to the international market in the six month period beginning July 8, 2021.
Both the value and volume of coffee export, respectively, increased 57,000tn and $274 million compared to the same period last year, Director-General of the Authority Ethiopian Coffee and Tea, Dr. Adugna Debela, told ENA on Thursday.
The six-month revenue figure makes Coffee the top performing export goods for Ethiopia which secured $1.89 billion from export revenues in the period.
Authorities attributed the brewing performance of the coffee sector to the recent policy reform which helped to improve export quality standards and integrate its marketing system vertically.
The system has brought coffee growers and exporters closer than, the Director-general said during a meeting that reviewed the sector’s performance.
Ethiopia is now exporting over 1,000 ton of coffee per day. Authorities believe that there is still more room to expand the coffee export.
Apart from expanding farming coverage, attention should be given to make the existing coffee farms sustainably productive, Adugna told the review meeting.
The East African nation is currently well on the way to not only achieve the export target set for the sector but also break its annual coffee export revenue record.
Africa’s top coffee producer obtained a new revenue of $906 million from coffee export last year and targets to secure over a billion US dollars by the end of the current 2021/22 budget year.