ADDIS ABABA, July 11, 2024– Ethiopia’s coffee market experienced significant growth in the 2023/24 fiscal year, generating US$ 1.43 billion in revenue.
The Ethiopian government reported that coffee exports generated US$1.43bln in revenue, with a 20 percent increase in coffee volume sold compared to the previous year. Ethiopia exported 298,500 tonnes of coffee, surpassing the previous year’s volume by 20 percent.
The Ethiopian Coffee and Tea Authority [ECTA] confirmed that Ethiopia exported 298,500 tonnes of coffee during the fiscal year ending in July 2024. In June, the country exported 46,000 tonnes of coffee, creating a record US$ 218 million in income.
In the previous fiscal year, Ethiopia made US$ 1.3bln from the coffee trade, exporting around 240,000 tonnes of coffee. This indicates that the volume of coffee traded by Ethiopia in the financial year ending July 2024 surpassed the volume traded the year prior by 20 percent.
Ethiopia, known as the origin of Arabica coffee, is one of Africa’s top producers and exporters of the commodity. However, experts often identify the absence of value-addition in Ethiopia’s coffee sector as a key barrier preventing the country from fully capitalising on its abundant coffee resources, as the country mostly sells raw coffee beans to the global market.
https://thecooperator.news/ethiopian-coffee-is-threatened-by-european-deforestation-regulations/
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