Ethiopian Coffee Exports Decline
The export of coffee from Ethiopia has declined by 38% in the first eight months of the financial year, as compared to the same period last, according to data from players in the sector. The Ethiopia Commodity Exchange has consequently eliminated the 5% +/- price range for coffee intended to regulate against price fluctuations on the international market last week. The range will not be applicable on the trading floor of Exchange until the price of coffee stabilizes on the international market said Dr. Eleni Z. Gebremedhin, Chief Executive of the ECX. It is estimated that the annual coffee production of Ethiopia for this harvest year will be 8,312,000 bags or 498,720 tons according to forecasts made by the International Coffee Organization. Ethiopia expects to export 50% of its coffee production amounting to an estimated 249.5 tons this year. Coffee exports in the first eight months of the fiscal year, however have only added up to 75,000 tons. The decrease in coffee sh