The Ethiopian Coffee and Tea Authority has called on coffee suppliers and exporters to expedite shipments of the bean, citing a downward trend in global prices.
Adugna Debela, Director General of the Authority, noted that international coffee prices have dropped significantly over the past few months. “Forecasts indicate that prices will decline further in the coming period. Suppliers and exporters should ship the commodity they currently have in stock to avoid additional losses,” he stated.
According to the Director General, coffee prices have already fallen by 30 percent in recent months, with further reductions expected.
For the current budget year, the Ethiopian government has set a target of exporting 600,000 tons of coffee beans, aiming to generate three billion dollars in revenue. As the country’s primary export commodity, coffee also sustains nearly a quarter of the population’s livelihood.
