Coffee exports drop – Report
Uganda recorded a decline in both value and volume of coffee exports in April compared to the same period last year.
According to the performance of the economy report for the month of May released by the Ministry of Finance, despite higher prices during the month, earnings from coffee exports decreased by 16.1% compared to March 2023 due to lower coffee export volumes.
This trend is partly attributed to the earlier drought and reduced coffee exports to Sudan caused by the disruptions from the ongoing conflicts.
The ministry adds that the market anticipation of higher output from Brazil, which was expected to intensify in May 2023, contributed to lower prices thus affecting the value of coffee exports.
However, on the bigger outlook, the value of merchandise exported in April 2023 increased by 59.3% compared to April 2022 mainly due to higher earnings from maize and mineral products exports.
The year-on-year increase in exports of mineral products follows the resumption of gold exportation in FY 2022/23 which was on a halt the previous financial year.
