Dubai
The Dubai Tea Trading Centre (DTTC), a division of the Dubai Multi Commodities Center (DMCC), has unveiled its new centralized tea storage, blending and value addition services as part of its expansion plans to accommodate the growing activities of the centre. The new facility was inaugurated by Jamal Majid Bin Thaniah, executive vice chairman, DP World and Group c.e.o., Ports Customs World, and Salma Ali Saif Bin Hareb, c.e.o. Economic Zones World. The 23,731 square meter facility in Jebel Ali Free Zone also includes office space for regional and international tea companies.
DTTC’s new facility offers services across the entire value chain of the tea industry ranging from storage, tea tasting, blending, packaging as well as networking opportunities leading to increased trade. The new facility also provides dedicated individual storage space, free storage for a limited period of time, and temperature-controlled blending and packing facilities for a wide range of teas under one roof.
"Tea is a truly global commodity – consumed among a wide array of peoples and cultures," said Ahmed Bin Sulayem, executive chairman, DMCC. "It is fitting that Dubai, with its geographic advantage and world-class infrastructure, is perfectly placed to become an important hub for international tea trade. DTTC has already made significant contribution to growing the tea trade. This new facility – a one-stop solution for the tea industry - will further boost tea traded through the Emirate, contributing to the ongoing diversification of the emirate’s dynamic economy."
DTTC’s success is demonstrated by Dubai’s encouraging tea growth, which is evident from the growing tea trade. In 2008, Dubai’s total tea trade reached 148.6 million kilos, compared to 144.6 million kilos in 2007. In the same period, 5.92 million kilos of multi-origin teas were transacted through the DTTC, representing an annual growth of 15%
"DTTC’s new facility is a milestone for the Centee as well as the global tea trade," said Sanjay Sethi, head of the DTTC. "As Dubai is neither a producer nor a significant consumer of tea, it is well positioned to offer integrated services across the tea industry. We have already seen immense interest from international tea traders to avail of these new facilities. We are confident that the new centee will attract more tea traders and boost the volumes of tea traded through Dubai," he added.
The new Centre has the capacity to store up to 5,000 metric tons of bulk teas at any given time. In addition, up to 2,400 metric tons of CTC teas and leaf teas can be blended per month. DTTC’s new facility also has the capacity to pack up to 250 metric tons of tea in tea bags every month and upto 900 metric tons of loose tea in retail format per month. These comprehensive services are expected to further help boost the volume of tea traded through Dubai.
In addition to providing market infrastructure, DTTC also enables tea traders to access finance through the services of the Global Multi Commodity Receipt (GMR).
The DTTC presently stocks teas from 13 producing countries, including Kenya, India, Sri Lanka, Indonesia, Malawi, Rwanda, Tanzania, Zimbabwe, Ethiopia, Vietnam, Nepal, China and Iran. In keeping with its mandate to further increase the tea trade in and through Dubai, the DTTC also facilitates sales with buyers in the GCC countries, Iran, Iraq, Jordan, Morocco, Pakistan, Afghanistan and the CIS countries and has plans to expand its services to other Middle East and European markets.
