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Ethiopia bags over $115m from coffee export in one month

Ethiopia has earned $115.4 million from export of coffee beans in the first month of the new Ethiopian fiscal year…

Ethiopia has earned $115.4 million from export of coffee beans in the first month of the new Ethiopian fiscal year which began on July 8, 2021.Ethiopian Coffee & Tea Authority, in its performance report on Wednesday said it had managed to export 31,145 tons of coffee, generating 115.46 million dollars.

The amount of coffee exported in the stated period has seen more than 9000 tons of coffee   against the quantity of coffee the authority exported in the stated period.

The performance has shown an increase as compared to the previous fiscal year in terms of both revenue and volume.

The volume of export increased by 146 percent while the revenue jumped by 161 percent, according to the Authority.

Germany has been the main destination for Ethiopian coffee in the month with more than 22.86 million birr worth of coffee exported or 20 percent to the European nation.

The United States and Belgium were also the second and third major destinations of Ethiopian coffee in the 30 days period.

More than $17.8 million worth of coffee (15 percent) exported to the US while Belgium imported close to $12.3 worth of Ethiopian coffee (11 percent), according to the Authority.

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