The Ethiopian Coffee & Tea Authority announced 94% increase in revenue from coffee export
November 19 - 2021Coffee Geography Magazine
The Ethiopian Coffee & Tea Authority has announced a 77% increase in coffee export and a 94% increase in coffee revenue as the country manages well to boost sales during the current critical time when coffee shortage is globally recorded all across the board in major markets.
According to ECTA, Germany is the primary importer of Ethiopian coffee with 26% market share or 27,874 ton, earning the country 90.85 m USD during the last four months alone. Saudi Arabia, Belgium, Japan, South Korea, Italy, China and the U.S. are also in the top list, sourcing the Ethiopian bean from regions famously known like Sidama, Yirgacheffe, Guji, Harar in the international roasting business segment. The agency expects a much better Y-Y sales performance than last year’s as exporters and farm cooperatives managed a bumper harvest this year for their clients with the volatile but attractive record prices which is still in the rise in major markets.
The coffee sector is functioning as usual, as Coffee Geography Magazine visited almost all the coffee producing regions in the country. Addis Ababa, the Seattle of Africa as a hub for large coffee warehouses and headquartering exporters with their labs is extraordinarily busy to accommodate new clients who are having difficulties in sourcing due to shortage in South America and South East Asia.
The recent report by CNN is unethical and irresponsible for fabricating a false narration of the situation on the ground. CNN, the international media network reported last week that the capital, Addis Ababa is blocked and surrounded by a rebel group which is a misleading statement as CGM reports not only from the capital but also deep south and south east of the country. The trade route across the east west highway is also clear from any danger that may hinder coffee shipments to the port of Djibouti.
Such types of misinformation by mainstream media companies like CNN may damage future contracts and global business trades in general. The damage that is incurred due to false reporting is considered for a Class Action Lawsuit as some coffee companies in the U.S. and Europe as well as coffee farmers might be affected by it.