Ethiopia Bags $1B From Coffee Exports in 10 Months

Ethiopia has earned a billion US dollars from its coffee exports in the first ten months of the 2023/24 financial year, according to the head of the sector regulator. The increase is attributed to a surge in coffee volume shipped to the global market. Ethiopia exported 209,000 tons of coffee to the global market over the past ten months, generating one billion US dollars. The country exported 29,000 tons more coffee compared to the same period in the preceding 2022/23 fiscal year, totaling 240,000 tons of beans valued at $1.3 billion. However, the ten-month export performance indicates that the Authority’s goal of making a record $1.7 billion earnings off the commodity this year is unlikely to be met. Ethiopia, the world’s third-largest Arabica coffee producer, relies on earnings from the crop as a major source of foreign exchange and consumes half of what it produces.

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