ADDIS ABABA – Ethiopia has secured more than $645 million revenue from Coffee export in the last seven months, achieving 143% of its plan set for the period.
The sector has outperformed the export target authorities set both in terms of value and volume for the first seven months of the fiscal year, beginning July. The nation planned 137, 048.3 tons of coffee and generated $451.33 million.
Ethiopian Coffee and Tea authority on Wednesday said the country managed to amass a total of $645.1 million after exporting 162, 818 tonnes of coffee.
Both the revenue and volume have also shown a $299 million and 59, 010.11 increase as compared to the same period last year, it said.
The Authority said fruitful efforts to resolve challenges of the export trade have been facing, and the improving price at the international market have played considerable role to the positive export performance of the sector.
Strict follow up on coffee trade and collaborative efforts of the exporters, growers, suppliers and sector actors at all levels have also contributed to the performance, it said.
Top 10 Markets
Data from the Authority shows Germany continues to be the top market for Ethiopian coffee export.
The East African nation exported 39, 579.8 tons of coffee to the European nation in the past seven months, getting $137.86 million (or 21% of the total revenue).
Saudi Arabia and Japan also take the second and third spot in the top ten destinations for Ethiopia coffee.
More than 24,563 tons of coffee valued at $86.14 million have also been exported to Saudi Arabia while Japan imported 17, 239.25 tons of Ethiopian coffee worth $65.79 million in the same period.
Belgium, United States, South Korea, Italy, China, France, and Taiwan, respectively, make up the remaining top ten destinations for Ethiopian coffee.
The ten countries have brought in 82% of the total coffee export with the revenue paying up 81% of the total revenue generated in the past seven months.