coffee beans
coffee beans

Ethiopia earned 215 million U.S. dollars from the export of 55,825 tons of coffee during the first three months of Ethiopian fiscal year 2017/18 that started on July 9.

The Ethiopian Coffee and Tea Development and Marketing Authority (ECTDMA) said in a press statement on Monday that the coffee export revenue was 34 million dollars, or almost 19 percent, more than that of the same period last year.

ECTDMA however said the 215 million dollar revenue was below its target of earning 245 million dollars from the export of 56,550 tons of coffee.

The authority plans to earn 1.1 billion dollars from the export of 270,000 tons of coffee during the 2017/18 fiscal year.

Germany, Saudi Arabia, the United States, Belgium, Sudan and South Korea are among the top importers of Ethiopian coffee, accounting for close to 86 percent of the total coffee exported from Ethiopia, according to the authority.

ECTDMA said earlier that it earned 866 million dollars from coffee export during the fiscal year 2016/17 that ended July 8.

Coffee is Ethiopia’s single largest export revenue earner, accounting for 25 percent of the east African country’s export revenues. Enditem

Source: Xinhua/NewsGhana.com.gh

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