Coffee export revenue goes up

THE country’s coffee exports revenue from January to October was more than K503 million, according to the Coffee Industry Corporation.
The K503,666,268 revenue was 50 per cent more than the previous corresponding period of K335,017,514, chief executive officer Charles Dambui said.
He said in a statement that export volume was 53,544 tonnes representing an increase of 47 per cent from the 36,407 tonnes last year.
Overall free-on-board export price increased by 6 per cent from K8902 per tonne to K9407 per tonne. The combined increases in export volume and export prices, resulted in the 50 per cent increase in export revenue.
“It is predicted that before the turn of the year, total coffee exports for 2016 is tipped to surpass more than one million bags, deriving additional income for coffee stakeholders,” Dambui said.
Total exportable stocks were 49,775 tonnes – an increase of 32 per cent – compared to 37,756 tonnes in 2015. More than two-third of this was new stocks and this new build-up resulted in an overall 10 months change of 5873 tonnes compared to 1693 tonnes in first 10 months of last year.
Exporters’ warehouses still have stock piles of coffee which are expected to be shipped out in this remaining month of this year and on to next year. “Normally, coffee generates between K400m and K500m annually as direct revenue for the government and with the increase in exports this year, the government’s revenue is expected to increase.”