Rwanda Coffee-Export Revenue Doubles in First Quarter on Price
Michael Chen
Senior Web Developer
Rwanda’s coffee-export revenue more than doubled in the first quarter as prices increased and stocks carried over from last year were sold, the National Agricultural Export Board said.
Earnings surged to $11.5 million in the three months through March from $4.9 million a year earlier, Eric Kabayiza, the board’s director of planning, said in an interview yesterday in the capital, Kigali. Average prices climbed to $3.13 a kilogram (2.2 pounds) from $2.58 previously, he said.
Production in the first quarter grew to 1.22 million kilograms from 1.06 million kilograms, Kabayiza said.
Rwanda, a $6.38 billion East African economy with 10.9 million people, relies on coffee and tea to generate almost half of export earnings, according to the African Development Bank. Output may increase 53 percent to 26,000 metric tons this year, the board said last month.
The country is expected to earn $87 million from coffee shipments this year, Kabayiza said. Earnings totaled $60.9 million last year, he said on March 7.
Source: bloomberg.com/news/2013-04-23/rwanda-coffee-export-revenue-doubles-in-first-quarter-on-price.html
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