Ethiopia’s income from coffee showed a decrease of $90 million.
Ethiopian Coffee Exporters Association has stated that, the amount of coffee that Ethiopia supplies to the world market has decreased year by year.
The general manager of the association, Gizat Worku, Ethiopia, in 2021/22, the amount of coffee that was offered to the world market was 302 thousand tons.
The Association has announced that only 240,000 tons of coffee has been supplied to the world market in 2022/23
The coffee exported to foreign countries showed a decrease of 62 thousand tons compared to the coffee produced in the world market last year.
The manager added that, Ethiopia has earned $1.33 billion from coffee export in this year.
The coffee export revenue was down $90 million from last year’s revenue.
Brazil, the leading supplier of coffee to the world market, saw its coffee supply reduced last year due to frost and drought.
Following this, the amount of coffee that Ethiopia supplies to the world market has increased, the official said.
Ethiopia is currently selling grade 5 coffee to the world market at $3.46 or 190 birr per kilogram.
However, one kilo of coffee is being sold for 400 birr or less than $7 in the country, and coffee exporters will be more profitable if they sell their coffee in the country instead of exporting.
As a result, the number of coffee exporters has decreased, and the foreign currency that Ethiopia earns from exports has decreased, the official Added.
In addition to this, the insecurity of the country causing problems for the coffee exporters and the official asked the government to do its responsibility.