coffee beans

Coffee Export Generates $1.3 Billion, Falls Short of Target

ADDIS ABABA – Ethiopia’s coffee export fell short of its annual targets but managed to generate more than 1.3 billion US dollars in the just-ended 2022/23 fiscal year.

The Ethiopian Coffee and Tea Authority (ECTA) discloses today that the country shipped 240,000 tons of coffee to the international market to secure 1.3 billion.

Both the volume and revenues, however, were significantly less than the targets the Authority set at 300,000 tons and $1.8 billion, respectively.

In his press briefing today, ECTA’s Deputy Director Shafi Omar cited global headwinds as a major reason for the underwhelming performance.

Ethiopia enjoyed favorable prices in the previous fiscal year during which it exported 300,000 tons of coffee worth $1.4 billion. Both figures are records.

This time, Shafi noted, coffee brought relatively close revenue to the record-making year despite a significant drop in volume.

He said, “this is an encouraging result recorded at the backdrop of the challenges” occurring in the global coffee market.

The major one he mentioned was a drop in demand from buying nations facing economic problems that drove down the prices.

Security problems in some major coffee-growing areas of Ethiopia also caused the coffee supply to drop.

Saudi Arabia, Germany, the USA, Korea, Japan, Belgium, and UAE have been the major destinations for Ethiopian coffee in the past twelve months.

Coffee supports the livelihoods of more than a quarter of Ethiopians and generates up to 30% of the country’s foreign exchange earnings.

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