Ethiopia earned 140 million US Dollars from coffee export in the month of August, according to the Ethiopian Coffee and Tea Authority (ECAA).
The coffee export has been averaging a billion US Dollars in annual revenue for the last three years.
Also read: Ethiopia students ID to get digital
Last year, 240,000 tonnes of coffee worth $1.34 Billion shipped to the international market. Saudi Arabia, Germany, Japan, the United States, South Korea, Belgium, and the UAE were among the major destinations.
So far this year, the Director General of ECAA Adugna Debela says, the volume of the coffee exported has shown an 18% year-on-year jump.
In August alone, 27,000 tonnes of coffee were shipped to the international market, bringing in $140 million in revenues, he told ENA.
Adugna has attributed the increase in supply to the efforts to boost export quality with a view to withstand challenges emanating from price fluctuations in the global market.
The Authority expects the country to export 350,000 tonnes of coffee and secure $1.75 Billion in the current 2023/24 fiscal year.
The Authority will continue working in tandem with farmers and other actors in the chain coffee market to achieve the annual target, per Adugna.
Coffee supports the livelihoods of more than a quarter of Ethiopians and generates up to 30% of Ethiopia’s foreign exchange earnings. Africa’s largest exporter of coffee Arabica also consumes half of what it produces.