The Ethiopian Coffee and Tea Authority has urged coffee suppliers and exporters to expedite shipments due to a downward trend in global prices. Prices have fallen by 30 percent in recent months, with further declines expected. The authority aims to meet export targets without additional losses.
The Ethiopian Coffee and Tea Authority has called on coffee suppliers and exporters to speed up shipments of their current stock, pointing to a continuing decline in international prices. Director General Adugna Debela highlighted that global coffee prices have dropped sharply in recent months. “Forecasts indicate that prices will decline further in the coming period. Suppliers and exporters should ship the commodity they currently have in stock to avoid additional losses,” he said.
According to the authority, prices have already decreased by 30 percent over the past few months, with more reductions anticipated. For the current budget year, the Ethiopian government has targeted exporting 600,000 tons of coffee beans to earn three billion dollars in revenue. As the nation's main export, coffee supports the livelihoods of nearly a quarter of the population.
This urging comes as market conditions pressure exporters to act quickly to secure earnings amid the price volatility.