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Ethiopia Export Revenue Falls as Top-Earning Coffee Prices Drop

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07/27/13

  10:14:18 pm, by admin, 309 words  
Categories: Coffee

Ethiopia Export Revenue Falls as Top-Earning Coffee Prices Drop

Ethiopia Export Revenue Falls as Top-Earning Coffee Prices Drop

Ethiopia Export Revenue Falls as Top-Earning Coffee Prices Drop

Bloomberg

By William Davison

The value of exports from Ethiopia, Africa’s biggest grower of coffee, fell 2 percent in 2012-13 from a year earlier as a result of declining prices for the beans even as volumes increased, the Trade Ministry said.

Ethiopia’s exports declined to $3.08 billion in the 12 months through July 7 from $3.15 billion a year earlier, the Addis Ababa-based ministry said in an e-mailed statement.

The Horn of African nation’s $43 billion economy is forecast to expand 6.5 percent this year, faster than the average of 5.6 percent for sub-Saharan Africa, according to the International Monetary Fund.

Revenue from coffee exports declined to $746.4 million in 2012-13 from $832.9 million, while volumes jumped 18 percent to 199,104 metric tons, the ministry said. Arabica coffee prices dropped 31 percent in the period, according to data compiled by Bloomberg. The price rose 2.9 percent to $1.2480 per pound by the close in New York yesterday.

Gold, the country’s second-biggest source of export revenues, fetched $578.8 million, falling 4 percent from a year earlier. Earnings from other minerals, excluding tantalum, jumped 48 percent to $12.4 million, while sales abroad of khat, a leafy plant that is used as a mild stimulant, raised $271.5 million, an increase of 13 percent, the ministry said.

Ethiopian exports have a limited impact on the overall economy, which is mainly spurred by public investment and private consumption, Lars Christian Moller, the World Bank’s lead economist in the country, said by phone today from Addis Ababa, the capital.

“The ambition is to have export-driven growth but Ethiopia needs to make further progress on improving competitiveness to realize this,” Moller said.

Shipments of leather products increased 10 percent to $121.9 million in the period as textiles rose 16 percent to $97.9 million, the ministry said. Deliveries of oil seeds fell 6 percent to $440.9 million, while exports of pulses surged 46 percent to $233.3 million, the ministry said.

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Comment from: C\'est moi senait [Visitor]
C\'est moi senait

The weyanne FAMAIN ECONOMY is similar to mushroom that growth one night and die next night. The over population is eating up the poor economy managed by few HODDAMS with no basic economy education. The so called rich are nothing but a bunch of thieves and looters who are sucking the blood of dying mother.
We should learn from Uganda,Ruanda and Israel how to improve the quality and earn more from exporting of our minerals. Not the gold that is now own by one Arab and contribute nothing to the poor Ethiopians. The entire gold export ends up in to this greedy Arab $578,8 pocket. We should priority the entire export commodity under microscopic investigation without harassing the honest private exporters.
What we read is how Ethiopia export revenue falls but how much is Ethiopia loosing by corruption, illegal trade like teff,caffe,berberi ,cattle and other thing smuggled to neighbours country and ship it to gulf nation? How came Asmara restaurants serves the best teff ingera and caffe ?

07/28/13 @ 03:42
Comment from: ewnetu [Visitor]
5 stars
ewnetu

The answer is:- Diversify. Diversify. Diversify.

The country needs to have a diversified economy to eliminate the economical impact. It is too old to depend on an agrarian products export only. For this reason, there should be 5 and 10 years a strong disciplined planning to accomplish desired goals. That is the only way to speed up building sustainable growth.

Also, the country needs to weed out corruption and bureaucracy. Recent study shows that corruption could impedes its economic growth. Fighting corruption and implementing transparency could support balanced economical growth. You can not attract new investment and companies if there is corruption and bureaucracy.

Funding education is another way to propel economical growth. Investors will be moving in, if there are skilled workers. How many vocational and trade schools are there to educate machinists, auto mechanics, carpenters, computer technicians,etc.? Computer literacy is a required curriculum for 21st century.

I have a good question. The coffee price goes down or stays flat. How come coffee brewers like Starbucks go up on the price every year?

07/28/13 @ 19:34
Comment from: Seattle [Visitor]
Seattle

What ever happened to flower? At one time it was the darling of the late MZ. Back in 2000s we suppose to pass Kenya as the leading exporters of flowers. earning billions of dollars of hard currency. We spend billions of our tax money, gave interest free loans to the Dutch and other foreign companies, gave away large swath of land for free, tax holiday, tax free import. All of these incentives, but nothing to show for.

07/29/13 @ 00:04
Comment from: TEDDY [Visitor]
1 stars
TEDDY

We don’t have to be an IMF or a WB expert to understand from where ’s
started the so called crisis .Agazi Bandits and Tigre Mafiosis are monopolising the entire Economic activities in illegal ways . It is undeniable that these looters are smuggling raw materials ,specially Agriculture products by impovrishing local producers .Mind you that the evil widow and her gangs are even controlling the Tchat Business . In Eritrea ,Meta Beer Bottles are actually served in bars and restaurants . Sugar exported to
Djibuti is shipped back into the country to be sold on the black markets .Don’t forget that until 1998 ,Shabis were unshamessly presenting Ethiopian’s Coffee Hide and Skeens as “Made in Eritrea” ,which they did steel from the Ethiopian Peoples with the blessings of their Arat Kilo’s bandit brothers .

07/29/13 @ 02:08
Comment from: mesfin_b [Member]  
mesfin_b

:):):)
This measn one thing only.
Our already dirt poor nation will grow poorer.
More of our people will starve. More mass exodus, along the way, dying in the desertlands, swept by rivers, eaten by sharks etc.
:):):)
Time to kill the weyanes at Arat kilo:):):)

07/29/13 @ 10:22
Comment from: TEDDY [Visitor]
TEDDY

Beg your pardon ,I was meaning “Don’t forget that until 1998 ,Shabis were unshamessly presenting Ethiopian’s Coffee Hide and Skins as “Made in Eritrea” ,which they did steal from the Ethiopian Peoples with the blessings of their Arat Kilo’s bandit brothers . “.

07/29/13 @ 13:45
Comment from: Ayalew [Visitor]
Ayalew

Teddy,
The only thing remaining for you say is that you don’t get enough sex because of weyane or Tigreans. You blame everything bad you think is happening on Tigreans. What a pity!
Do you really read? Please ask your mother,C\’est moi senait, to teach you reading. In addition, you Dad, Zerihun, is also alive–ask him to help you understand politics.
Don’t open that ugly mouth of yours on us.
In the first place, you do not possess what it takes to talk about Tigrians–you are so inferior and stupid.
On the final note–please respect people as a people.
As you are so garbage so does your out put.
Shintam ahya!

07/30/13 @ 17:57
Comment from: Gragn Ahmed [Visitor]
Gragn Ahmed

coffee mainly comes from occupied lands of the South. Time to stop the business especially starbucks. anybody from South stop buying anything from starbucks until we are free. Especially any one who is tied to the import of coffee we should sign petition not to deal any business with coffee.

07/30/13 @ 19:34
Comment from: mesfin_b [Member]  
mesfin_b

:):):)
Ayalew aka TPLF Cyber cadre.
Teddy is never afraid to tell on nazret what your bosses at Arat Kilo are doing.
-They steal
-They lie
-They put every Ethiopian that is not worshipping them to prison
-They have shackled our nation to be the poorest land on the planet for 22 years.
These TPLF cave-men, are bleeding our Ethiopia to death. This is the atrocities done by your masters.
If you don’t like this to be told you go to hell.
:):):)

07/31/13 @ 10:40

rebtel

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