Rwanda's coffee export revenues and volumes recorded during the last financial year fell below projections.
The country realised $58.5 million (Rwf49.7 billion) from coffee exports during the last financial year (July 2016 to June 2017), below $60.7 million (Rwf51.6 billion) registered during the previous fiscal year, indicating a 3.61 per cent drop in earnings.
This was also lower than $67.8 million (Rwf57.6 billion) the agro-exports body had projected to earn from the beans during the reporting period.
The drop was despite a relatively better price on the global market, averaging $3.16 (Rwf2, 686) per kilogramme compared to $3.10 (Rwf2, 635) per kilogramme the year before.
NAEB attributed the drop in coffee export receipts to the low coffee volumes sold in the period under review. The country exported 18,502,442 kilogrammes of coffee against 19,560,636 kilos sold in 2015/16 fiscal year (FY). This was a decrease of 5.41 per cent year-on-year.
At a glance
Coffee is a key export crop of Rwanda and has contributed an average of 24 per cent to total agricultural exports over the last decade. Over 400,000 farmers across the country derive their livelihood from the coffee sector.