Ethiopia earned 841.6 million dollars from the export of about 200,000 tonnes of coffee in 2010/2011 fiscal year. The country is planning to raise its coffee production to 700,000 tonnes from 300,000 tonnes over the coming four years.

Experts said that the increase in the quantity of coffee exported from Ethiopia was due to the introduction in 2008 of a commodity exchange market, which promoted transparent trading, and rising global commodity prices.

The 841.6 million dollars earned in the 2011/2011 fiscal year was greater by 59 percent than the amount the country earned in 2009/2010 according to the Ethiopian Coffee Exporters Association.

Prices for Ethiopia's specialty Sidamo beans hit 1,500 birr (88 dollars) for 17-kilograms in 2010/2011, which was 600 birr last year.

The Ethiopian Commodity Exchange, which trades maize, sesame, coffee and white pea beans through an open outcry system, said it was planning to introduce future and forward trading in a country where hoarding is common among traders wary of price volatility.

Source: Reuters