The Ethiopian government has made a record $1.4 billion revenue from exporting 300,000 metric tons of coffee during the just-concluded Ethiopian 2021/22 fiscal year that ended on 7th July.
Compared with an average coffee export yearly earnings, the country generated additional revenue of $500 million during the just concluded fiscal year with a growing export volume to the global coffee market.
Adugna Debela, the director-general of the Ethiopian Coffee and Tea Authority, attributed the country’s record revenue from the exports of coffee to the soaring global commodity prices, shortened supply chain, the rise in emerging coffee markets such as China, and better transparent trading.
Ethiopia, as Africa’s biggest coffee producer, has recently seen a growing potential in China’s booming coffee market as China becomes one of the largest importers of Ethiopian coffee.
Figures from the Ethiopian Coffee and Tea Authority showed that China has imported 5,879.34 metric tons of Ethiopian coffee over the first ten months of the just-concluded Ethiopian fiscal year, earning $30.4 million, up by 31% from the same period of the previous year.
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