China has become one of the largest importers of Ethiopian coffee and this market can expand further. This was stated by Adugna Debela, director general of the Ethiopian Coffee and Tea Authority, in an interview with the Xinhua agency.According to data from the Authority, China has become the eighth importer of Ethiopian coffee in the first ten months of the current Ethiopian fiscal year 2021/2022 (started July 8, 2021).
“This year, Ethiopia's coffee export to China is amazing. Last year, China ranked 33rd among Ethiopian coffee importers, but this year it rose to 8th, ”Debela said, attributing the success to the opening of new markets and changing Chinese consumer habits. China has imported 5,879.34 tons of Ethiopian coffee in the past ten months, allowing the East African nation to earn $ 30.4 million, up 31% over the same period last year.
"There have been a number of joint promotional activities, including meetings of officials from the two countries, which have helped create an ideal environment for the growing export of coffee to China," said Debela who added: "'the Ethiopia has earned $ 1.014 billion from exporting 232,000 tons of coffee in the past ten months. This is a record that goes beyond all expectations ”.
Last year, Addis Ababa planned to earn $ 810 million by exporting 220,000 tons of coffee in ten months. Earning over $ 1.014 billion and exporting 232,000 tons of merchandise, with an increase in both export volume and revenues, it has exceeded all expectations. Debela said the country sold 60% of its coffee at agreed prices, with the rest being sold at the New York auction market. The Authority is evaluating the possibility of selling Ethiopian specialty coffees at a negotiated price in China in the near future.
High global commodity prices, reduced supply chain, new growing markets like China, and more transparent trade have helped the East African country improve the performance of its coffee exports, Debela said. The good market trend suggests that Ethiopia, as Africa's largest coffee producer, could export another 68,000 tons of coffee this year. with a total export of about 300,000 tons of coffee. (ICE ADDIS ABABA)
News source: InfoAfrica
Article source: TradeAgencyItalia