Over $356mln pocketed from coffee, tea export trade in first quarter
Addis Ababa October 31, 2023 (FBC) – The Ethiopian Coffee and Tea Authority (ECTA) has pocketed more than 356 million dollars from export of coffee, tea and spice products in the first quarter of the current fiscal year.
Coffee, tea and spices are among the agricultural export products that Ethiopia obtains foreign currency. The Ethiopian Coffee and Tea Authority asserted that it is working to increase the income by maintaining the supply and quality of the product to the foreign market, in that regard.
Reviewing the ECTA’s first quarter performance in the current fiscal year, Shafi Umer, the deputy director general of the Authority, stated that the Authority is aiming to collect more than 1.79 billion US dollars by exporting 364 thousand tons of coffee, tea and spices products in the 2023/24 fiscal year
To that end, 356 million 900 thousand US dollars was earned from the export of 70 thousand 480 tons of coffee, tea and spice products in the last three months, he said.
Shafi pointed out that the coffee market slowdown compared to the same period last year and cited other reasons including the slashing of demand for coffee in the global market.
The deputy general director stated that the work of increasing the number of products and maintaining the quality and expanding the market access will be undertaken throughout the fiscal year.
Ethiopia’s coffee, tea and spice products are exported to the United Arab Emirates, Sudan, Saudi Arabia, Korea, Japan, the U.S., Indonesia, the Netherlands, Kenya and other countries, it was indicated.