Ethiopian Coffee and Tea Authority announced that Ethiopia earned USD 787 million from coffee export during the past 8 months. According to the Authority, Ethiopia achieved a better performance in coffee export when compared to the same period in the last fiscal year even though the Ukraine-Russia war affected the European coffee market which was the top destination for Ethiopian coffee.
The country has diversified its market destinations due to current international developments and started to export coffee to the United Arab Emirates, China, and Australia. The income registered from coffee export during the past 8 months has shown a 38.5% increase when compared to last fiscal year’s performance.
Ethiopia exported 300,000 tons of coffee to the international market and obtained a record USD 1.4 billion during the 2021/2022 fiscal year. It aims to increase coffee export to USD 4.6 billion within 15 years and its global coffee market share to 1.26 million Metric Tons by 2033.
Source: Ethiopian News Agency