Addis Ababa: Ethiopian Coffee and Tea Authority (ECTA) announced that coffee exports have brought 835.2 million US dollars to the country in revenue during the nine months of the current fiscal year that started on 8th July 2023.
According to the Deputy Director-General of ECTA, Shafi Umer, the nation exported 174,596 tons of coffee to the international market during the stated period.
Shafi indicated that the income has marked a notable increase as compared with the previous Ethiopian fiscal year same period.
Saudi Arabia, South Korea, the United States, Germany, Japan and China have been the major destinations of the East African nation’s coffee products, it was learned.
The Deputy Director-General figured out that the Ethiopian coffee industry achieved a significant milestone as it has been generating billions of dollars in revenue following the nation’s rigorous reform in the sector.
For instance, the country obtained over 1.3 billion USD from coffee exports during the past Ethiopian fiscal year.
He
added a total of 1.75 billion USD is anticipated to be obtained from coffee export at the end of this concluding Ethiopian fiscal year.
Shafi further stated that in addition to the existing destinations for coffee export, Ethiopia has been diversifying its international market over the nine months.
In this regard, he indicated that a number of new countries have been joining the top 10 clubs of Ethiopian coffee buyers.
While the United Arab Emirates, Sudan and China were previously buying Ethiopian coffee, they were not ranked among top 1o Ethiopian coffee buyers.
Moreover, Shafi said that tremendous reforms are being made in coffee production and value as well as market chains to achieve better results.
Source: Ethiopian News Agency