Ethiopia’s annual coffee export earnings have increased 22 percent to $1.4 Billion in the Ethiopian calendar year ended July 7, 2022.
According to the Ethiopian Tea and Coffee Authority, Ethiopia exported 300,000 metric tonnes of coffee in the budget year. This export generated $1.4 billion. According to the state agency, Ethiopian Tea and Coffee Authority, the amount of hard currency generated by the east African country is 22 percent more than the previous budget year.
The Government of Ethiopia implemented reforms to increase the productivity of coffee as well as smoothen the trading process. The new strategy aims to increase Ethiopia’s annual coffee export earnings by $4.6 billion in 15 years, addressing the most serious challenges.
The country also set target to boost the farmers’ income to reach to $3.5 billion and generate employment opportunity for 2.7 million people. Ethiopia also has a goal to increase its global coffee market share by 1.26 million metric tonnes by 2033.
Coffee is Ethiopia’s major export item that covers over 30 percent of the total export earnings of the country. During the year concluded on July 7, 2022, Ethiopia’s total export earnings from goods has reached all time high by surpassing $4 billion.
Though Ethiopia’s coffee export is mainly dominated with the raw export of green coffee, latest reports show that in recent years some companies have been engaged in export of roasted, grounded and packed coffee.
Source: newbusinessethiopia
