No money! Ethiopian official "block" this Chinese coffee merchant!

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In recent years, coffee has been welcomed by Chinese consumers, and the domestic demand for coffee has increased day by day. Many coffee companies will import coffee beans from various coffee producing countries and ship them back to China for baking and sale. Through the spread of coffee culture, many coffee lovers know Ethiopia, the most famous "ancient country of coffee" in Africa, and the local coffee beans rich in flower and fruit aroma.

The popularity of hand-brewed coffee has led to the sales of Ethiopian coffee beans, and many consumers who like sour coffee beans are enthusiasts of Ethiopian coffee beans. therefore, in order to meet domestic consumption demand, many domestic coffee companies buy coffee beans from Ethiopian coffee exporters and sell them to Chinese coffee consumers when they return home.

However, more than a week ago, according to the local Ethiopian "Capital", the Ethiopian Coffee and Tea Administration banned a Chinese coffee company from signing a contract with Ethiopia, and the authorities made such a decision because the Chinese coffee company failed to make corresponding payments to local coffee exporters, thus hurting the foreign exchange earnings of the Ethiopian coffee industry.

According to the report, both companies that buy coffee from Ethiopian exporters and supply coffee to the Chinese market have received coffee, but have not yet made the necessary payments to exporters. Among them, the company named LEBUNNA TRADING DMMC, which supplies coffee to the Chinese market, was repeatedly asked by local exporters for payment, but the company did not respond to the request for timely payment, which not only brought financial difficulties to local exporters, but also affected the country's foreign exchange earnings.

Ethiopia is the largest coffee producer in Africa and the fifth largest exporter of Arabica coffee in the world. Coffee is one of Ethiopia's main sources of export earnings, accounting for 3035% of the country's total export revenue. Over the past decade, China's annual coffee consumption has grown at an average rate of more than 15%, which has made Ethiopian exporters very interested in the Chinese market and willing to cooperate with Chinese companies.

It was reported that a letter dated 1 February 2024 from the Ethiopian Coffee and Tea Authority to the local coffee exporters' association mentioned that LEBUNNA TRADING DMMC had changed its name to SINOCHAM HEBEI CORPORATION and that the company continued to purchase coffee from exporters without payment.

In view of these problems, the Ethiopian Coffee and Tea Authority is empowered by decree No. 1051 / 2009 and rule No. 433 / 2011 to monitor and enforce contracts with foreign buyers or exporters, and may take appropriate action in the event of non-performance of contractual obligations.

In view of these problems, the Authority has instructed the local coffee exporters' association not to sign any contracts with companies that hinder the country's foreign exchange earnings until the National Bank of Ethiopia solves the problem.

Picture from: Internet

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