Addis Ababa – The Ministry of Agriculture and Rural Development (MoARD) announced that the revenue the nation is getting form coffee export has been showing a promising result since last October.
In a statement sent to WIC on Tuesday, MoARD recalled that few problems had been encountered in the coffee export sector at the beginning of the budget year as coffee buyer companies failed to fulfill their promises due to the global financial slowdown.
The problems created by coffee exporters who violated proclamation 602/2000, which was endorsed to create a conducive environment of controlling the quality of coffee and sustaining a viable marketing system, had also created few challenges on the coffee export, it said.
However, the statement said, promising results are being scored in the coffee export sector beginning last October owing to the necessary attention the government paid to strengthen the sector.
The legal measures taken against coffee exporters who attempted to violate the legal direction, establishment of a laboratory that tests chemical residue as well as the fact that actors of the coffee trading sector are getting used to the new marketing system are among the factors that contributed to the encouraging results scored in the coffee export sector over the period reported, the ministry says.
Over 237.5 million birr was secured from sale of 10,361 tons of the over 18,000 tons of coffee, confiscated while being moved illegally, to local coffee exporters through the Ethiopia Commodity Exchange (ECX). The remaining coffee is also being sold to local exporters. According to the ministry, over 277 million USD revenue was secured form export of close to 98,000 tons of coffee during the past 10 months.
The ministry also forecasts better coffee export and revenue as the volume of coffee promised to be sold during May and June is considerably higher that that of the previous 10 months.
The ministry urged coffee growers and exporters to closely work and improve the country’s foreign currency earnings in a sustainable manner through efficiently employing the favorable condition at home and the reviving international coffee market.
You can leave a comment below.