Ethiopia has generated more than $209.5 million from coffee export in the month of May, putting the sector on track for record high annual revenue.
In a statement issued on Tuesday, the Ethiopian Coffee and Tea Authority (ECTA) said the east African country exported a little over 43,481 tons of coffee to earn the $209.54 million from the export of the commodity.
“This is significantly higher as compared to similar months of the previous two years,” ECTA said in a statement.
ECTA said the export trade surpassed the targets the authority had set for the month of May both in terms of the volume and value by 105 percent and 107 percent respectively.
The growing performance of the sector has been attributed to a new market option that has eliminated unnecessary steps in the supply chain.
Over the past eleven months, the coffee industry shipped over 252,466 tons of beans to the global market, generating $1.208 billion after.
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