An Ethiopian industry institution has revealed that coffee exports have earned the African country over $835 million in revenue over the past nine months.
According to the East African, the country exported 174,596 tons of coffee to the international market during the first nine months of the current Ethiopian 2023/24 fiscal year that started on July 8, 2023, the Ethiopian Coffee and Tea Authority (ECTA) said.
Ethiopia in this fiscal year has also managed to create new markets outside of its traditional coffee-importing countries, according to Shafi Oumer, ECTA Deputy Director-General.
Data from the ECTA revealed that China, the United Arab Emirates and Sudan are becoming top destinations and massive importers of Ethiopian coffee.
Ethiopia’s traditional coffee importers include Saudi Arabia, South Korea, the United States, Germany and Japan. They have been the major destinations of Ethiopia’s coffee exports over the years.
Ethiopia is globally recognized as the home of Arabica coffee, a distinct strain of coffee found almost exclusively in the country. The country remains Africa’s largest producer and exporter of coffee.
Ethiopia’s economy is led by its agricultural sector, and coffee production is the backbone of the agricultural sector in the country.
Ethiopia is globally recognized for its production of rich coffee quality and flavor ranging from winy to fruity and chocolatey. The country’s coffee is in great demand across the globe.
During the previous fiscal year of 2022/2023, the country earned a whopping $1.3 billion in revenue from exporting about 240,000 tonnes of coffee.
The ECTA responsible for coffee’s export revenue, however, noticed a notable drop as compared to the previous fiscal year when the country recorded a record high of $1.4 billion from the export of about 300,000 tons of coffee.
Experts in the Ethiopian coffee sector have pinpointed the lack of value addition to Ethiopia’s coffee sector as a major setback that hinders the country from fully benefitting from its rich coffee resources as the country only exports raw coffee beans to the global market.