Ethiopia earned a record $1.43 billion from coffee exports in the 2023/24 fiscal year, according to the Ethiopian Coffee and Tea Authority (ECTA). The country exported 298,500 tons of coffee, a 20% increase from the previous year’s 240,000 tons. According to the report, that 240,000 tons had generated $1.3 billion. In June alone, 46,000 ton of coffee were exported, bringing in $218 million, which is itself a record amount for monthly coffee exports. Ethiopia is one of the largest producers and exporters of coffee in Africa. It is the origin of Arabica coffee, a species of the fruit recognized globally for its quality and rich flavors. While the increase in coffee export is no doubt a positive thing, experts believe that the lack of value-addition in the sector is a significant challenge that will hamper the extraction of value from its rich coffee resources.
SOURCE: THE EAST AFRICAN
Ethiopia Earned Record Revenues from Coffee Exports in 2023/24
