Ethiopia has earned 525.6 million USD from the export of 133,113.74 tons of coffee in the last five months of the current Ethiopian fiscal year.
The Ethiopian Coffee and Tea Authority announced today that the revenue has seen a 240.81 million USD increase as the volume grew by 51,546.65 tons compared to the same period of the previous fiscal year.
The Authority has put Germany, the United States, and Saudi Arabia as the top three destinations for Ethiopian coffee during the last five-month period.
Accordingly, more than 32,889.92 tones (25 percent of the total) of coffee from Ethiopia, is exported to Germany resulting in 109.79 million USD (21 percent) in revenue.
Saudi Arabia imported a total of 19,287.87 tones (14 percent) of coffee in the same period, bringing in 66.31 million USD (12 percent) revenue.
According to the authority, Belgium, Japan, the United States, South Korea, Italy, China, France, and Australia rank from 3 to 10 as the top 10 destinations for Ethiopian coffee in terms of revenue generated.
These top 10 destinations showed a 77% increase in revenue and a 100% increase in revenue compared to the same period of the past fiscal year.
As the price of arabica coffee beans has increased output steadily over the past months in the global market, the steep rise of coffee prices draws massive benefits to Ethiopia
Ethiopia is the fifth-largest coffee producer and exporter in the world and Its shipments are primarily green coffee. The production of coffee in the country takes place over 650,000ha of cultivated land.