Ethiopian Coffee and Tea Authority revealed that it has secured US$130.52M foreign currency from the export of over 32,669 tons of coffee last month.
The information sent to The Ethiopian Herald stated that the export is much higher than the past similar period. It is to be recalled that the revenue obtained from the sector in March was US$107M from the export of 27,200 tons of coffee. It shows that the coffee sector has hit over 100 percent performance during the past four months, the Authority noted.
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Authority Public Relation and Communication Director Sahlemariam Gebremedhin said that the sector’s improved performance can be attributed to the cup of excellence, introduction of new coffee seedling some four months back, and the permission given to farmers to export their products directly.
Compared with performance of the same month last year, amount of coffee revenue has increased from 3700 USD/ ton to 3,900- up to 4000 USD/ton. This means the improvement in the quality exported coffee has helped increase the revenue by ten percent in this fiscal year putting the cash crop top in the list of agricultural items in terms of revenue earned, it was learnt.
