The Ethiopian Coffee and Tea Authority revealed that nearly 300,000 tons of coffee were shipped abroad in the past nine months, generating over USD 1.5 billion in foreign exchange earnings.Adugna Debela PhD), Director General of the Ethiopian Coffee and Tea Authority, highlighted the significant growth in both volume and revenue. A total of 299,607 tons of coffee were exported during this period, surpassing initial targets and marking a 148% increase over the planned figure of approximately 202,000 tons for the same timeframe. This performance was notably higher than the revenue generated in the first 12 months of the previous fiscal year.The Director General expressed optimism about the future of Ethiopia’s coffee trade, pointing to ongoing efforts to reach the goal of generating USD 2 billion in export revenue by the end of the current fiscal year. The country is aiming to export a total of 400,000 tons of coffee this year, continuing its upward trajectory in both the quantity and quality of its coffee exports.Ethiopia’s coffee industry is considered one of the largest and most vital in the world, with the product exported to 84 countries globally. Among the leading destinations for Ethiopian coffee are Saudi Arabia, Germany, the United States, Belgium, and China.The Director General also emphasized the role of structural reforms in the sector, including the replacement of older coffee varieties with more productive and quality-focused strains. These changes have contributed to the boost in Ethiopia’s coffee exports. Looking ahead, the authority plans to maintain this momentum, with a target of exporting an additional 120,000 tons of coffee between April and June of this fiscal year. The Ethiopian Coffee and Tea Authority is optimistic about the continued growth of the sector and its potential to exceed the USD 2 billion revenue goal by the close of the 2024/25 fiscal year. (ICE ADDIS ABEBA)

Fonte notizia: Ethiopian News Agency & 2Merkato.com