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Ethiopia’s Coffee Exports Bring in Record Revenue
Ethiopia has announced that coffee exports have generated an impressive 1.43 billion U.S. dollars in revenue during the just-concluded Ethiopian fiscal year. The Ethiopian Coffee and Tea Authority (ECTA) revealed that the country exported 298,500 tons of coffee in the 2023/24 fiscal year, marking a significant increase from previous years.
In June alone, Ethiopia exported 46,000 tons of coffee, making a record 218 million dollars in revenue. This is a positive sign for the country, as the coffee industry is a vital component of its economy. Last year, Ethiopia earned 1.3 billion dollars from the export of 240,000 tons of coffee, showcasing a steady growth in revenue over the years.
Ethiopia, known as the birthplace of Arabica coffee, is renowned for its high-quality coffee with diverse and rich flavors that range from winy to fruity and chocolatey. This has led to a high demand for Ethiopian coffee on the global market.
Despite its success in coffee exports, experts believe that Ethiopia can further benefit by adding value to its coffee sector. Currently, the country mainly exports raw coffee beans, missing out on the additional profits that come from processing and packaging the coffee locally. By investing more in value addition, Ethiopia could potentially maximize its earnings from its abundant coffee resources.
With a continued focus on the coffee industry, Ethiopia is poised to strengthen its position as one of Africa’s leading coffee producers and exporters. As the demand for high-quality coffee continues to rise globally, Ethiopia has the opportunity to capitalize on its rich coffee heritage and boost its export revenue even further.
