ECTA reported the export of coffee recorded higher in volume and revenue surpassing the target for July 2021. While the plan was to export 21,339.80 MT of coffee, Ethiopia has managed to export 31,145.70 MT worth of $115.46 mil. Compared to July 2020 it has shown an increment of 12,129.8MT and revenue of $51.49 mil. The revenue accounts for a 20% share from the USA, 11% Belgium & 22.86 % Germany The rest ranked as Saudi Arabia, Japan, China, South Korea, Italy, France, Australia taking the ranks from 4-10. These top 10 importers accounted for 83% of total volume & 82% of total income. Overall, these top 10 shipping destinations countries have increased 79% of their Ethiopian volume and are worth a 90% increase in their costs compared to July 2020.
Green Coffee Association announced that July 2021 inventories increased by almost 300,000 bags to around 6 million being the highest since Oct 2020.
Coffee prices have received a much-needed jolt since October 2020, after numerous fits and starts in the previous year. In the first half of the coffee year 2020/21, the ICO composite indicator (Figure 1) averaged 114.27 US cents per pound. In April 2021, the monthly average of the indicator surged to 122.03 US cents per pound, its highest level in more than three and a half years. This trend continued into May 2021, with the daily indicator breaching 140 US cents per pound for the first time in more than four years.
While much support for coffee-producing countries has centered on roasters in consuming countries paying fairer prices, a growing number of initiatives are empowering coffee farmers to establish and access critical infrastructure to generate value from supply chains themselves. From greater international cooperation between coffee-producing countries and the private sector to the deployment of radical technologies, such as blockchain and supply chain tracking systems, today there is growing hope for definitive action in assisting marginalized coffee farmers to capture a great share of the coffee value chain.
“Single-origins do highlight the terroir of a specific place – so how the coffee tastes in that place,” Brooks adds. “Single-origins are typically very expressive of the country where they’re purchased from. Ethiopian single-origin coffee is like eating a peach.”
Coffee is no longer just a hot drink, it’s a lifestyle, and the type of coffee we drink reflects far more than just our coffee preferences. It’s become a status symbol.