Ethiopia’s Coffee Export Generates Record High $196mln in August
September 12, 2024
September 12, 2024
Ethiopia’s earnings from coffee exports reached an all-time high of 196 million USD in August, said sector regulator as the industry continues its record breaking performance in the 2024/25 fiscal year.
On Thursday, the Ethiopian Coffee and Tea Authority (ECTA) reported that 42, 322 tons of coffee were shipped to the global market in August, bringing in $196 million in revenue.
“This is the highest ever monthly earning secured from coffee export to date,” said ECTA’s Director General Adugna Debela.
The performance saw the Authority achieve both its export volume and value targets for the month of August by 165% and 143%, respectively.
Ethiopia significantly increased its coffee supply to the global market in the past couple of months. The suge comes after the country set up a new market market option by “eliminating unnecessary steps” in the coffee supply chain, per ECTA.
In July, the export volume grew 78% to 40,532 tons of coffee – making it the Country’s biggest shipment for that particular month.
Together with August, ECTA has overseen the shipments of 82,853 tons of beans to the international coffee market that generated $377 million in two-month revenue.
Compared to the same period last year, Adugna said the two-month exports’ volume rose by 32,925 tons (66%) while the revenue jumped by $110 million (41%).
The Coffee industry is considered the backbone of the country’s economy. Its exports in the previous financial year brought the country $1.43 billion in revenue. Source: Ethiopian Monitor
