Ethiopia has earned record $1.868 billion from coffee exports over the past ten months, the Ethiopian Coffee and Tea Authority (ECTA) announced Wednesday.
The authority said 354,302 tons of coffee was exported during the period to amass the stated revenue, exceeding the national target by 147% in volume and 142% in revenue.
The export performance saw an increase of 70 percent in volume and 87 percent in revenue compared to the same period last fiscal year through exporting additional 145,316.3 tons of coffee and generating 869.13 million U.S. dollars, the statement quoted Adugna Debela, director-general of ECTA as saying.
Germany, Saudi Arabia, and the United States have been ranked as the top three destinations for Ethiopian coffee exports during the stated period.
Germany imported 61,239 tons, contributing USD 295 million (17% of total revenue), followed closely by Saudi Arabia with 60,182 tons valued at USD 290.7 million (20%), and the United States with 28,299 tons accounting for USD 192 million (10%).
“This outstanding achievement is the outcome of a well-coordinated national effort,” said Debela. He also expressed optimism that the next two months of the fiscal year will build upon the same momentum, underpinning Ethiopia’s position as a world leader in premium coffee production.
Ethiopia, regarded as the origin of Arabica coffee, is one of Africa’s largest producers and exporters of the commodity. Coffee production is seen as the backbone of the country’s agriculture-led economy.
MG/abj/APA