Ethiopia expects it coffee to hit a record high during the current fiscal year when it comes to the export of the commodity. This is said to be attributable to the drought and diseases hitted crops in Latin America.

According to a forecast by the International Coffee Organization, the global coffee production is going to fall short following an unprecedented drought early this year reducing the 2014/15 crop in Brazil, which is the world's biggest coffee producer.

Following this, Africa’s largest coffee producer, Ethiopia, exported, 54,000 tons of coffee in the first quarter of its fiscal year. The exported commodity is worth USD 231.9 Million, which is higher than what the nation earned a year ago in the same period; USD 172.5 Million from the export of 51,000 tons of coffee.

Commenting on the matter Ethiopian Coffee Exporters' Association Chairperson, Hussein Agraw, said he expects coffee export to rise during the current fiscal year to 235,000 tons and generate USD 862 Million.

In the past fiscal year Ethiopia exported a total of 190,000 tons and earned USD 841 Million, Hussein explained. He furthered during the 2012/2013 export reached 193,000 tons.

According to official figures, the current fiscal year is going to bless Ethiopia with a total of 450,000 tons of coffee, which is the same as last years.

Source: Ministry of Foreign Affairs