Coffee exports earn USD 257m

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During the first four months of fiscal year 2018/19, the coffee sector generated over a quarter billion birr.
Coffee Beans, which are historically Ethiopia’s major export item, generated USD 257 million from July through October.
The Ethiopian Coffee and Tea Authority report indicated that in the stated period 76, 853 tons of coffee were exported, which is 84 percent of the target, while in terms of revenue it is 77.7 percent of the target.
The performance compared with a similar period last year has registered a 7.7 percent decrease in terms of revenue but the volume has increased by about 3 percent.
According to the initial plan earnings were expected to reach USD 331 million.
Top Ethiopian coffee destinations are Saudi Arabia which took 20 and 15 percent of the total volume and revenue respectively. This was followed by Germany and Japan which took 14 and 12 percent in terms of hard currency earnings respectively. The other destinations included in the top ten are: the US, Belgium, South Korea, Italy, Australia, Sudan and Britain. The top ten destinations contributed to generate 81 percent of the total revenue and 83 percent of the shipment.
Even though the volume has increased slightly earnings shrunk, possibly because international market prices have gone down from a year ago.
For instance coffee exports to the top ten destinations increased by 6 percent but the revenue went down by 8 percent.
According to the authority’s report, Sidama coffee was exported the most, followed by Nekemt, and Jimma at volumes of 30 and 15 percent respectively.