Ethiopia, the homeland of coffee has earned over $894 million in income from the Coffee trade in the first three quarters of the 2021-22 financial year.
“During this nine-month tenure, more than 2, 10, 000 tons of coffee was exported to the global markets”- Mr. Shafi Umer, Deputy Director, Ethiopian Coffee and Tea Authority (ECTA).
Compared to the last year’s nine-month surveys, there witnessed an overall growth of the revenue and volume figures to 74.5% and 43.66 % respectively. And the coffee sector achieved 133% of the total export target set for this period.
The Deputy Director has accredited achievements to an array of measures taken comprising quality improvement, reforming the trading process, and several systems formulated to benefit coffee farmers.
Furthermore, Mr. Shafi claimed that the Authority has been firmly following the coffee export process on the right path, from the farm to exporting the product to the worldwide market.
In the past nine months, approximately 87 million birrs worth of coffee was seized by the Authorities from illegal trading, ECTA reported. Therefore, some counteractive measures were also taken in the case of illegal traders and those who were involved in hoarding coffee in bulk.
The nine-month performance placed the nation on track not only to reach the export targets fixed for the industry but also to break its yearly coffee export revenue records.
The entire coffee producers of Africa attained a new revenue of $906 million the previous year from coffee exports and now aim to secure above a billion US dollars by the end of the 2021-22 budget year.