Uganda earned $ 61.43 million (about Shs217 billion) from coffee exports in October 2021, which is a decline of about $6m from $66.62 million (about Shs234b) exported in September 2021.
A total of 486,534 60-kilo bags of coffee valued at US$ 61.43 million (about Shs217b) were exported in October 2021 at an average weighted price of $ 2.10 /kilo, 20 cents higher than US$ 1.90 /kilo in September 2021 and 60 cents higher than US$ 1.50/kilo in October 2020.
This is contained in the monthly report released by Uganda Coffee Development Authority (UCDA) on Thursday, 18 November 2021.
According to the report,offee exports for 12 months (November 2020-October 2021) totalled 6.55 million bags worth $657.23 million compared to 5.41 million bags worth $ 513.79 million the previous year (November 2019- October 2020). This represents an increase of 21% and 28% in both quantity and value, respectively.
The report indicates 81% of the total volume was exported by 10 exporters, out of 43 companies which performed during the month of October 2021 compared to 83% in September 2021
The report attributes the increasing coffee exports during the month of October to newly planted coffee which started yielding supported by favourable weather.
“This was also compounded by a positive trend in global coffee prices. Coffee prices have been going up since July 2021 as Brazil faced the threat of frost and high temperatures, while Vietnam faced a challenge of shipping containers as a result of Covid 19 related restrictions. This prompted exporters to release their stocks,” the report adds.
Farm-gate prices for Robusta Kiboko averaged UGX 2,650 per kilo while Arabica parchment was UGX 8,750 per kilo and Drugar UGX 8,250 per kilo.
Global coffee prices in September rose to their highest since February 2021, and have continued an upward trend observed since the start of the coffee year in October 2020, according to the International Coffee Organisation.