APA- Addis Ababa (Ethiopia) Ethiopia has earned more than $907 million from export of coffee, tea and spices during the first nine months of this Ethiopian fiscal year which began on July 8, 2022, the Ethiopian Coffee and Tea Authority disclosed on Thursday.
The stated money was earned from exporting more than 169,000 tons of coffee, tea and spices.
The revenue, the regulatory body said, showed a decrease as compared to similar months last year despite exporting relatively the same volume.
Germany, Saudi Arabia, United States, Kenya, Britain, China and India are the major Ethiopian coffee importing countries across the world.
In the global market, the price of coffee Arabica enjoyed was well above $2 per pound for most of 2023 fiscal year.
However, improved production in some of the top coffee-producing nations coupled with a drop in demand from buying nations facing economic problems drove down the price in recent months.
Ethiopia, which is known as the origin of Arabica coffee, is recognized worldwide for its rich coffee quality and flavor, which ranges from winy to fruity and chocolate, making the country’s coffee varieties on demand across the globe.
MG/as/APA