Ethiopia seeking a greater share of Asia’s burgeoning coffee market
Addis Ababa, June 29, 2021 (FBC) – Ethiopian Coffee and Tea Authority has launched new drive to secure Chinese investment in nation’s coffee industry. Ethiopia is seeking a bigger slice of Asia’s growing coffee economy.
According to Dr. Adugna Debela, Director General of the Ethiopian Coffee and Tea Authority, the East African nation is seeking to increase trade with Asian countries, such as China and South Korea, where coffee consumption continues to grow.
“The Asian market is a very opportune market to expand and sell coffee, particularly China and South Korea,” Dr. Adugna told China’s Xinhua news outlet.
“We have already invited Chinese investors to work in joint-ventures with our coffee roasters here in Ethiopia. A value-added coffee can be directly exported to China… There is a very enabling environment now in Ethiopia, particularly to invest in coffee,” he added.
As part of its drive to increase overseas investment in Ethiopian coffee, the Ethiopian Coffee and Tea Authority says it has instigated measures to raise the quality of coffee exports, with the initiative already raising the value of Ethiopian coffee from 3,700 USD per ton to 3,900-4,000 USD over the last year.
Coffee is big business in Ethiopia and provides an income from more than 15 million people across the country, with around 60% of the country’s foreign income coming from the crop. According to the Ethiopian Coffee and Tea Authority, Ethiopia’s coffee exports netted 854.21 Million USD in 2020, with the US, Japan, Germany, Belgium, and Saudi Arabia among the top importers.