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Coffee export earnings, which is Ethiopia’s major source of foreign currency, declined during this past fiscal year even though the volume of coffee exports rose.
During the 2017/18 budget year, which ended July 7, USD 838.2 million came from coffee exports. A year ago the brought in USD 882 million. That is a reduction of USD 44 million.
In the 2017/18 budget year 238,465 metric tons were exported throughout the world. In 2016/17 225,668 metric tons of the green bean were exported, according to the latest report from the Coffee and Tea Development and Marketing Authority.
Coffee revenue is far from what was hoped for in the GTP II matrix.
According to the authority’s report, the achievement for the year was 88.2 percent in volume and 72.4 percent in value.
Germany has continued to be the major destination for Ethiopian coffee with 22 percent share of the total export volume. According the report the Coffee and Tea Authority revealed, Germany has imported 51,634 metric tons with USD 145 million revenue, which is 17 percent of the total revenue.
USA and Saudi Arabia stood in the second and third position. The US has bought USD 141 million worth or 26,656 metric tons, while Saudi imported 37,405 metric tons of coffee with USD 121 million. Japan, Belgium, South Korea, Italy, Sudan, France, and UK are in third to tenth place respectively.
From the total export these ten importers covered 86.2 percent and 84.4 percent of the volume and the value respectively.