Coffee exports bring Ethiopia a record $1.4 billion

According to the government, coffee exports brought in $1.43 billion for Ethiopia during the recently ended fiscal year.

According to a statement released on Tuesday by the Ethiopian Coffee and Tea Authority (ECTA), the nation exported 298,500 tonnes of coffee during the 2023–24 fiscal year, which concluded on July 7.

46,000 tonnes of coffee were exported in June, bringing in a record $218 million for the nation, according to the ECTA.

About 240,000 tonnes of coffee were exported, bringing in $1.3 billion for Ethiopia during the preceding fiscal year.

According to ECTA data, there was a 20 percent increase in coffee exports in the fiscal year 2023–2024 over the previous fiscal year.

Ethiopia is one of Africa’s biggest producers and exporters of Arabica coffee, which is thought to have originated there. The nation’s agriculture-based economy is thought to be based mostly on the production of coffee.

Ethiopian coffee is highly sought-after worldwide because to its well-established quality and diverse range of flavors, which include winy, fruity, and chocolaty notes.

Because Ethiopia mostly exports raw coffee beans to the global market, experts frequently point to the absence of value-addition in the country’s coffee industry as a major barrier preventing it from fully profiting from its abundant coffee resources.