Nov 23 , 2019
Ethiopia fetched 287.6 million dollars from the export of coffee, tea and spices in the first four months of the current fiscal year. The export performance was 82.3pc of the target the government set, according to the Ethiopian Coffee & Tea Development & Marketing Authority. Compared to the same period last year, the commodities were 27.1pc higher in volume and generated 9.6pc more in value. Out of the total earnings, coffee exports fetched the country 284.1 million dollars with 100,452.5tn of coffee having been sold. The volume was 103.8pc of the projected amount, while the value was 83.6pc. Germany, Saudi Arabia and Japan were the three leading export destinations for Ethiopian coffee. A quarter of all coffee exports were sent to Germany. Belgium, the United States, Korea, Italy, Sudan, France and Taiwan were also in the top 10 export destinations of Ethiopia. The decline of world prices of coffee for the past 13 years was mentioned as the main reason for export revenue failing to meet government targets, according to the Authority.
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