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Ethiopia: Troubling Year for Ethiopian ExportsTuesday, September 16, 2014 > 09:25:41
Close to the end of the year in question, Kebede Chane, Minister of Trade, reported to the House of Peoples' Representatives (HPR) that the 10-month export revenue that the country secured from it's number one export commodity - coffee - has shown a 15 percent decline compared to the same period last year.
The report indicated a decline both in terms of volume, 136,000 tones, and export dollar receipt, USD 489.2 million, during the 10-month performance period. Coffee volume fell by eight percent compared to the same time last year, where 199,104 tones was shipped for the whole fiscal year. What the sector brought in last year, 882 million dollars, appears to be twice the value of the 10-month performance this year.
There were various reasons for this, according to Kebede. First and foremost, he blamed shortage of coffee supplies to the central market. Meanwhile, price fluctuations in the international market, the sector's deficit in conquering new coffee markets around the world and uncontrolled contraband trade to neighboring countries were also among the reasons pointed out by the minister as challenges.
Above all, Kebede emphasized the need for an institution that could exclusively work on coffee and help to break into new international coffee markets around the world. On the other hand, overall export revenue was also reported to be below the target set for this year. According to Kebede's report, a total of USD 2.61 billion secured during the last ten months was only half of the ministry's target, which was USD 4.25 million.