Oct 30 , 2021
Coffee exports generated close to 330 million dollars over the first quarter of the fiscal year. The figure is 77pc higher than revenues from the same period last year. A total of 86,300tn of the cash crop was shipped abroad, over 30,000tn more than what was exported over the first three months of the last fiscal year. The top three destinations are Germany, the US and Saudi Arabia. The Coffee & Tea Authority targets the export of 280,000tn of coffee and revenues of a little over one billion dollars this year. Coffee industry players are also among the select groups that have been exempted from the freeze on collateralised loans imposed by regulators at the central bank in August 2021.
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