China continues to be among top importers of Ethiopian Coffee
Addis Ababa, October 11, 2021 (FBC) – The Ethiopian Coffee and Tea Authority stated that China continued to be among the top importers of Ethiopian coffee in August.
The Chinese market is becoming a major destination for the nation’s coffee exports, the Authority said.
Ethiopia’s coffee and spices earnings reached 125 Million USD from export of 33,16o tons of both commodities in August although it plant to collect 99 Million USD.
In June, Ethiopia launched an initiative to attract Chinese investors to join hands with local coffee roasters to add value to their products and increase direct coffee exports to China, with efforts seem to be bearing fruit.
Statistics from China also showed great increases in trade between China and Africa despite the ongoing pandemic. Trade between China and Africa increased by 40.5 percent year-on-year in the first seven months of this year, and was valued at a record high of $139.1 billion, according to figures from China’s Ministry of Commerce.
A recent report by business networking forum Economist Corporate Network showed how these strengthening trade links between China and Africa are, in part, a result of China’s favorable financial incentives offered to African jurisdictions.
Export of sesame seed to China currently constitutes close to 70 percent of the Ethiopia’s total export of the product to the global market.