Addis Ababa - Ethiopia has earned over $645 million (R9. billion) from the export of coffee in the first seven months of the country’s current budget year, which began on July 8, 2021.
The revenue came from the export of 162 818 tonnes of coffee, showing a $299 million increase, as against the same period last year, the Ethiopian Coffee and Tea Authority said in a statement on Wednesday.
According to the statement, the major importers of Ethiopia’s coffee Arabica are Germany, Saudi Arabia and Japan.
The data from the Authority also shows that Germany continues to be the top market for Ethiopian coffee export.
The East African nation exported 39 579.8 tonnes of coffee to the European nation in the past seven months, earning $137.86 million (or 21% of the total revenue).
Saudi Arabia and Japan also take the second and third spots in the top 10 destinations for Ethiopian coffee.
Over 24 563 tonnes of coffee valued at $86.14 million have been exported to Saudi Arabia, while Japan imported 17 239.25 tonnes of Ethiopian coffee worth $65.79 million in the same period.
Belgium, the United States, South Korea, Italy, China, France, and Taiwan, respectively, make up the remaining top 10 destinations for Ethiopian coffee.
The 10 countries accounted for 82% of the total coffee export, and the revenue put at 81% of the total revenue generated in the past seven months.
APA