Published on : Jun 26, 2015
The drive of coffee export in Ethiopia is likely to get propelled by increased output from a venture led by a renowned Saudi Arabian investor.
Ethio Agri-CEFT and Horizon Plantations plans to boost its coffee production exponentially and increase its tea output.
Horizon Plantations belongs to MIDROC umbrella group of companies. A major share of the group is owned by Mohammed Hussein Al Amoudi, who is an investor from Saudi Arabia. According to Forbes magazine, Mohammed Hussein Al Amoudi has a net worth of $10.8 billion.
It has been revealed by the Managing Director of the firm Jemal Ahmed in a recent interview that in the next five years the company planes to produce approximately 25,000 tons of coffee.
He also revealed that the firms are planning to export all their produce once they attain the needed quality for the same. The group is also planning to set up an instant coffee plant in the near future.
The firm trades in premium coffee which it makes available to customers through Starbucks, Munich-based Dallmayr, Tchibo – Germany’s second largest roaster, Neumann Kaffee Gruppe, and Seattle-based Caffe Vita.
At present the firm produces more than 10,000 tons of coffee from its sprawling plantation spread over 25,000 hectare in the Southern Europe. As much as 70% of this produce is exported.
Ethiopia is also the biggest producer of coffee bean in Africa. The country is expected to record exponential increase in export by the fiscal year ending in July this year. The coffee export of the country is also believed to leverage from the poor performance of the drought and disease hit rival, Latin America.
During 2013 and 2014, total amount of coffee produced in Ethiopia totaled a whopping 450,000 tones, according to the official statistics. Given the industry trends, the officials are expecting similar production this season as well.