Ethiopia has secured $1.226 billion in revenue from coffee exports over the past eight months, the Ethiopian Coffee and Tea Authority (ECTA) said Friday.
The East African country exported more than 257 thousand tons of coffee to earn the stated sum of money during the first eight months of the 2024/25 Ethiopian fiscal year, which began on July 8, ECTA said in a statement.
“Following several reforms taken by the government and pertinent stakeholders to gain the most out of the sector, the country secured $1.226 billion (134 percent of the plan) by exporting more than 257,000 tons (152 percent of the plan) of coffee during the past eight months,” statement said.
The authority attributed the better revenue to the government’s reform that resulted in increased coffee production, productivity and quality which in turn gave rise to higher export volumes.
Ethiopia is projected to generate $2 billion from coffee export in the 2024/2025 Ethiopian fiscal year by exporting more than 400,000 tons of coffee.
Regarded as the birthplace of Arabica coffee, Ethiopia earned more than $1.4 billion from coffee exports in the previous fiscal year.
Saudi Arabia, Germany and the United States have been the first three major export destinations of Ethiopian coffee during the period.
Belgium, South Korea, United Arab Emirates and China follow in fourth to seven positions, becoming key emerging destinations for Ethiopian coffee beans.
MG/as/APA