East African nation, Ethiopia, has earned over $645 million (R9. billion) from coffee export in the first seven months of the country’s budget year, beginning July 8, 2021.
The revenue came from the export of 162 818 tonnes of coffee, showing a $299 million increase, as against the same period last year, the Ethiopian Cοffee and Tea Authority said in a statement on Wednesday.
Ethiopia, known as the origin of Arabica coffee, is recognized worldwide for its rich cοffee quality and flavor, which ranges from winy to fruity and chocolate, making the country’s cοffee varieties on demand across the globe.
The growing popularity of Ethiopian coffee in China reflects the huge potential of African products in Chinese market.
According to the statement, the major importers of Ethiopia’s cοffee Arabica are Germany, Saudi Arabia, and Japan.
The data from the Authority also shows that Germany continues to be the top market for Ethiopian cοffee export.
The East African country exported 39,579.8 tonnes of cοffee to the European nation in the past seven months, earning $137.86 million — or 21% of the total revenue.
Saudi Arabia and Japan also take the second and third spots in the top 10 destinations for Ethiopian coffee.
Over 24 563 tonnes of cοffee valued at $86.14 million have been exported to Saudi Arabia, while Japan imported 17 239.25 tonnes of Ethiopian cοffee worth $65.79 million in the same period.
Belgium, the United States, South Korea, Italy, China, France, and Taiwan, respectively, make up the remaining top 10 destinations for Ethiopian coffee.
The 10 countries accounted for 82% of the total cοffee export, and the revenue put at 81% of the total revenue generated in the past seven months.