Surplus & more
As Ethiopia starts its second-quarter ECTA briefed its major milestones across the sector. The authority reported the overachievement in supplying more than 86,288.14 MT worth of 327.87mm USD versus the planned supplies of 70,880.90MT & 239.84 mm USD earnings. This has seen an increase of 122% in volume and 137% in revenue. Compared to the same period last year, it increased by 32,845.09 MT(61.46%) and revenue by $ 143.08 mm USD (77.43%). Germany’s green coffee imports had a share of 25% volume with 21,336.70 mt with of 66.78 mm USD, Saudi imported 12,380 mt (14%) worth of 40.83mm USD, while US’s import saw 7,739MT valued at 39.49 mm USD. Changes in rank took place as Saudi took second place versus the previous two months. Belgium, Japan, South Korea, Italy, China, France, and Australia took the ranks from 4th -10th with changes rank as Italy took the 7th place replacing China. The top 10 destinations accounted for 83% of import volumes & 82 % of revenues with an increase of 74% & 88% of import volumes & revenues respectively compared to 2020’s same period.
This national performance does seem to resonate across the producing regions as well. The Southern part, particularly The Southern Nations, Nationalities, and Peoples' Region known for the production of Yirgacheffe, Benchi Maji & Mizan Tepi & other coffees has announced its plan of supplying 10927MT to the central market versus 64330MT of the previous FY. Along with the increment in volumes, the region is working hard on coffee varieties enhancement, market regulation as we heard from the authorities. We will be expecting good news from the north as well, from the Amhara region particularly the Awi subregion, Gugsa district which is expected to supply 2976MT coffee known for its hints of blueberry & chocolate.
Coffee harvest looks to be going well across most regions with a noted increase in cherry prices. The export trade for the new crop will start in January until then Ethiopia will primarily ship from 2020/21 with its 280,000MT ongoing performance which is on a very positive note.
