The value of coffee exports from Uganda remained largely unchanged in January as declining global prices offset growth in export volumes, according to a report released Monday by the country’s ministry of agriculture.
Coffee is one of Uganda’s most important export commodities and a major source of foreign exchange. The country is also Africa’s largest exporter of coffee beans.
In January, Uganda generated $161 million from coffee exports, representing a 1.5% increase compared with the same period last year. However, the modest growth was largely attributed to lower global prices, according to Reuters.
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The report explained that the price pressure was “driven by an improved global supply outlook after Brazil receiving heavy rainfall… this eased some of the concerns regarding future coffee supply.”
Export volumes showed a slight increase during the month. Uganda shipped 569,454 60-kilogram bags of coffee in January, which was 2% higher than the volume exported in the same month a year earlier, according to the report.
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Image Credit: The Independent Uganda
