Coffee and oilseeds exports earned Ethiopia over $1.2 billion in the past Ethiopian budget year, which ended on July 7, 2019, according to the Ministry of Trade and Industry.
The stated revenue was generated from the export of coffee, green mung, white kidney beans, sesame and soya beans, said Misganu Arega, State Minister of Trade and Industry, in a press conference on Tuesday.
Misganu said his office will take measures against illegal exporters, including license revocation measures.
Ethiopia, Africa’s top coffee producer, is also expected to export a record-high four million 60-kg bags of coffee in this Ethiopian budget year, the U.S. Department of Agriculture attache in Addis Ababa said, as yields improve and the area dedicated to coffee farming increase.
Production of coffee is expected to rise to 7.35 million tonnes in 2019/20, an 1.4% increase from the 2018/19 season.
Exports account for just over half of overall production, and are forecast to grow 0.5% in 2019/20 from the previous year to reach 4 million bags.
Coffee is Ethiopia’s main export.
Exporters in the country are facing increased regulation, the USDA said, with the government banning several exporters in recent months for defaulting on their contracts and hoarding beans.
MG/as/APA