Over the last 10 months of the current fiscal year, coffee exports have brought in $1 billion for Addis Ababa, according to the Ethiopian Coffee and Tea Authority (ECTA), Ethiopian News Agency reported.
According to Adugna Debela, General Director of the authority, Ethiopia's coffee export volume is increasing annually, with over 50 nations getting the exports, and ongoing initiatives are being made to increase Ethiopian coffee's market share in other foreign markets.
"In terms of finding new global markets, we participated in a lot of exhibitions. We have been encouraging our suppliers and exporters to participate in exhibitions held in different countries. Currently, China, South Korea, Sudan, and the UAE have started to take high production of Ethiopian coffee," Debela said.
The East African nation of Ethiopia made 1.3 billion dollars from the export of about 240,000 tonnes of coffee during the previous fiscal year, 2022/2023. The fiscal year in Ethiopia runs from July 8 to July 7.
Furthermore, the general director emphasized that a state-of-the-art system has been put in place to deter illicit activities associated with the coffee trade and to "increase the foreign trade performance of the sector."
Ethiopian coffee is mostly imported and consumed in the US, Japan, Belgium, Germany, and Saudi Arabia, among other countries.