Uganda’s Coffee export earnings hit UGX 3.5trn- Report
Uganda coffee exports increase for the coffee year ending September 30, a new report indicates.
According to the Uganda Coffee Development Authority (UCDA) monthly report for September, Uganda exported over 6.1 million bags for the 2022-2023 coffee year which ends in September every year, amounting to $940.36 million (about UGX 3.5 trillion) in revenue.
This compares to more than 5.8 million bags exported during the previous coffee year, 2021/222, which brought in $877.66 million (around UGX 3.28 trillion), the report shows. This shows an increase of 5% in quantity exported over the reporting period, while revenue going up by 7%.
The report also reveals that Uganda recorded the highest ever coffee exports in August, when it shipped out 743,517 60-kilogramme bags of coffee, bagging $121.64m (about UGX 456.75b) in forex revenue.
However, export coffee volumes and revenue decreased when compared with those of August, but higher when compared with a similar month last year.
Uganda exported 577,073 60-kilo bags, recording $94.39 million in forex revenues, indicating a growth of 12.8% and 30.4% in quantity and value, respectively, when compared to September, 2022 coffee exports, UCDA added.
The sector watchdog attributed the growth in export volumes and revenue to a good crop harvest in south-western region, saying the prevailing good prices on the global scene prompted exporters to release their stocks.
The coffee was at $2.73 per kilo, on average, unchanged on a monthly basis, but higher than $2.36 per kilo recorded in September last year.
Italy maintained its position as the biggest importer of Uganda’s coffee, taking 35.11%, Germany 22.48%, Sudan 9.16%, India 7.08% and Algeria 4.25% took of the beans, among others.