Previous Story
Uganda, Record Coffee Export, Worth More than $400 Million
Posted On 04 Jun 2020
By Richard Adorsu-
Photo Credit: Coffee Review
NEW AFRICA BUSINESS NEWS (NABN) Accra- Uganda’s coffee exports continue to surge despite the coronavirus pandemic with April first quarter figures showing growth compare to last year.
Uganda Coffee Development Authority (UCDA) said in a report released coffee exports were 359,973 60 kilogramme bags worth $36.93 million compare to 305,643 bags exported in April 2019 valued at $30,048,530 million.
This was an increase of 18 per cent and 23 per cent in quantity and value respectively, compared with the same period last year.
For the coffee authority, the increase in exports has been attributed to higher production on account of fruition of the newly planted coffee and not necessarily the harvest season.
“Coffee exports for the first 10 months of the financial year 2019/20 amounted to 4.24 million bags worth $413.53 million compared with 3.48 million bags worth $350.26 million the previous year. This represents 21.89 per cent and 18.06 per cent increase in both quantity and value respectively. Cumulatively in 12 months, (May 2019-April 2020), a total of 4.93 million bags worth $478.47 million were exported,” said UCDA in a statement.
The coffee authority said, apart from an increase in harvested coffee, exporters also “drew down on their stocks due to the lockdown caused by the Covid-19 pandemic.”
Mr. Joseph Nkandu the executive director of the National Union of Coffee Agribusiness and Farm Enterprises said the Covid-19 surge in March forced many coffee buying companies to stock up because the coffee destination countries had closed.
He cited major coffee importers like Germany, Italy and Spain pushing those volumes to April. “Most of the coffee which was supposed to be exported in March was exported in excess in April-2020,” Mr. Nkandu said.
The fall in the value of coffee exports reflected the lower price received in March. The average export price declined to $1.6 per kilo down from $1.65 per kilo in February and $1.63 a year earlier. Annually, Uganda’s average coffee earning top $450 million.
For New Africa Business News Richard Adorsu Reports, Africa Correspondent
Facebook: newafricabusinessnews.com
Email: Info@newafricabusinessnews.com
AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com
Most African countries have great lands for agriculture. Let us make it happen. Let us grow the food we eat and export the rest for other continents. GODBLESS AFRICA! Johnny in NAIROBI KENYA.
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Johnny you are right let us grow our own food and take care Africa. Nothing impossible. Africa is a great Continent and Great people. Lagos NIGERIA, Alika!
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Uganda’s farmers and most African countries are hard working people, am sure the plan that African Union have for our Great Continent, to feed ourselves, will be achieve. Proud to be African. London England! Chiamaka.
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
I like to thank new Africa business news for reporting. Great newspaper! Great reporting! Rabat Morocco, Iman.
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Thank you for signing me to New Africa Business News, newsletter. I enjoy reading this great newspaper and educative. Cape Town, South Africa. Jennifer
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Thank you for reporting, covering the whole Continent. I love New Africa news and I love Mother Africa. Oba! Hamburg, Germany.
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com