Between January and October 2012 Rwanda coffee revenues amounted to US$44,723,043Million dropping from US$61,339,958 million for the same period in 2011.
The fall in coffee export revenues is attributed to an acute fall in prices of the product on the international market, according to NAEB international marketing officials.
Yet 2012 was supposed to be the bumper season where high volumes were expected.
Figures also indicate that Rwanda managed to register a general increase in exports earnings in the first months of 2012 with a total receipt haul of US$385 million compared to US $315 million from January to October in 2011 representing a 22% increase, reported the EA Business Week.
According to Rwanda coffee Strategy for the period 2009 to 2012, the target for production was expected to be 33,000 tons of coffee with 19,000 tons of fully washed coffee.
This volume was expected to generate export receipts of $115 million in 2012.
According to NAEB’s coffee market report, fully washed (FW) coffee prices also went downwards where the weighted average price went from US$7.5 /kg January to US$4.51 /kg in December making a 39% decrease in prices of specialty coffees.
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