Coffee Exports Jumps to $426m in 1Q

Oct 22 , 2022

The revenue generated from coffee exports in the first quarter of this year has jumped to 426 million dollars, increasing by 30pc compared to the same period last year. Shortfalls in global supplies brought on by droughts in Brazil, the world's largest coffee producer, boosted the Ethiopian coffee industry. Accounting for a third of the world's coffee trade, over 200,000hct of coffee farms in Brazil were hit with four rounds of frost, decimating harvests, the worst disaster to befall the country's coffee growers in four decades. Authorities claim that the quality measures that have recently been taken raised the coffee export earnings. However, the volume of coffee exported has dropped by 12pc. Ethiopian Coffee & Tea Authority (ECTA) reported that over 72,00tns of coffee has been shipped, seven percent less than the target they had set. Ethiopia earned last year 1.4 billion dollars exporting close to 300,000tns, less than seven percent from the previous year's export volume, earning 860 million dollars. Ethiopian coffee exports have reached new markets such as China, among the top 10 destinations. Germany ranked first with a share of 17pc of the revenues, while Saudi Arabia and Belgium took the second and third places, both with over 11pc shares.