Ethiopia secured over USD 196 million from the export of 42,322 tons of coffee in just one month, setting a new record for foreign currency earnings, according to the Ethiopian Coffee and Tea Authority.

The Director General of the Authority, Adugna Debela (PhD), confirmed that the latest export figures marked the highest monthly revenue from coffee exports in the country’s history. The export volume increased by 165%, while revenue surged by 143% compared to previous targets.

In the first two months of the fiscal year, Ethiopia earned USD 377 million from exporting 82,853 tons of coffee, up by USD 110 million (41%) and 32,955 tons (66%) compared to the same period last year.

Ethiopian coffee is currently exported to over 60 countries, with the U.S., Germany, Belgium, Japan, Spain, and Saudi Arabia being the top destinations. The country earned USD 1.43 billion from coffee exports in the 2023/24 fiscal year.

Source: The Ethiopian Herald