Ethiopia has earned $2.44 billion in revenue from export of 409,000 tons of coffee in the past 11 months of the current Ethiopian fiscal year which began on July 8, 2024.
Speaking to journalists in Addis Ababa on Friday the Ethiopian Coffee and Tea Authority (ECTA) Deputy Director General Shafi Umer said that the country has produced 1.1 million tons of coffee in the stated period, marking a significant increase compared to previous years.
The deputy director general attributed the increased coffee production to Ethiopia’s continuous planting of coffee seedlings through government initiatives, about half of which are now bearing fruits.
Umer said a forecast of coffee production conditions in Ethiopia is being carried out, and procedures have been developed to identify which areas may experience a decrease in productivity and identify potential problems in coffee production.
The deputy director general noted that logistical problems have been one of the negative impacts on the coffee trade this year.
To promote sustainable development and strengthen the trading system of the coffee industry, the ECTA also announced that they are preparing guidelines that will enable the implementation of a weekly minimum coffee selling price.
According to the authority, setting a minimum price will strengthen traders’ bargaining power and enable them to secure better prices in international markets.
Coffee trade entities will be informed through their respective associations about the minimum coffee selling price.
MG/as/APA