True to the Ethiopian Coffee and Tea Authority forecast, Ethiopia seems to be headed in the direction of obtaining the targeted 1-billion-dollar worth of coffee export revenue by July 2022, the end of this budget year.

An income of $894Mn was generated within the first nine-month period of the Ethiopian 2021/2022 budget year, realized through the sale of over 210,000 tons of coffee. These represent growths of 74.5% and 43.66%, respectively, when compared to the same months last year. All in all, the industry is reported to have met 133% of its nine-month export target, according to Deputy Director of the Ethiopian Coffee and Tea Authority.

It is suggested that the Ethiopian government’s recent policy change, which allowed farmers’ unions to directly export coffee and/or supply directly to exporters, has contributed to income growth in recent years, and so has quality improvement, modernizing the trading process and various systems devised to benefit coffee farmers. Furthermore, the prosecution of illegal traders and those who engaged in bulk coffee hoarding has resulted in the seizing of 87 million ETB worth of coffee from unauthorized traders during the last nine months.

Source: New Business Ethiopia/ Ethiopia Coffee and Tea Authority

DISCLAIMER

The opinions expresses here in the post "Ethiopia Records an All-Time High Coffee Export Revenue of $894Mn within Nine Months of the Current Fiscal Year" are those of the individua's contributor(s) and do not necessarily reflect the views of Business Info Ethiopia , BIE Intelligence PLC, its publisher, editor, or any of its other contributors.

Share.

Comments are closed.