Ethiopia Benefits From Rising Global Coffee Prices

global coffee prices rose to their highest in a decade due to a drop in the supply of coffee beans.

The International Coffee Organization (ICO) disclosed that the coffee price index in November 2021 reached $1.9517 per pound, up 7.5% from the same period in 2020. Brazil, the largest coffee exporter, was affected by environmental and logistical problems, and coffee exports fell sharply, causing coffee prices to continue to rise.

The ICO also pointed out that in October 2021, global coffee exports totaled 9.68 million bags (60kg per bag), down 4.4% from the same period in 2020. Among them, Brazil's coffee exports totaled 3.43 million bags, down 23.8%. During the same period, coffee exports from Asia and Oceania increased by 25.8%, and African coffee exports increased by 5.1%.

As the origin of coffee and Africa's largest exporter of Arabica coffee, Ethiopia's coffee export volume and export value in the second half of 2021 exceeded expectations.