Oilseed has taken over coffee by being the biggest source of foreign currency for Ethiopia during the first 10 months of the current fiscal year.

According to Walta Information Center the ten months report from the Ministry of Trade stipulates, Ethiopia managed to earn almost U.S $ 585 Million from the export of oilseeds. Nonetheless, coffee was only able to generate U.S $ 488.88 Million within the same period.

With regard to the amount the report states Ethiopia exported over 404 Thousand Tons of oilseeds which is 10 percent increase when compared to the same period as last year. The revenue also shows an outstanding growth, 52 percent increase. This achievement, the revenue, is 95 of what was aimed for the year.

On the other hand coffee is not enjoying all the sunshine oilseed is. The Ministry planned to earn U.S $ 822.08 Million for the 10 months. Yet it only managed to collect 60 percent of this.

Comparison to the last year reveals there is a decline by 8.7 percent in export and 15 percent in revenue generated.

Source: Walta Information Center