Multi origin tea in Dubai

The Dubai Tea Trading Centre (DTTC) has received the first stocks of multiple origin tea, totalling 182 tons, in response to the Dubai government’s initiative to up the emirate’s tea trade.

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By  Robbie Greenfield Published  April 12, 2005

The Dubai Tea Trading Centre (DTTC) has received the first stocks of multiple origin tea, totalling 182 tons, in response to the Dubai government’s initiative to up the emirate’s tea trade. The DTTC will encourage suppliers from different tea producing countries to hold their stocks in Dubai for sales primarily to buyers in the Middle East, Russia and CIS countries. In addition, the centre has offered certain incentives, such as free storage facilities, preferential rates of clearing, and the Dubai Commodities Receipt (DCR) – where finance could be available against hypothecation of stocks. “The main objective of the DTTC is to further grow Dubai as one of the leading tea trading hubs in the world,” says Ahmed Bin Sulayem, COO of the Dubai Metals and Commodities Centre (DMCC). “This objective is absolutely achievable as tea is extensively consumed in this part of the world and the consumption within countries in our region, as well as internationally, continues to grow.” The DTTC will give tea suppliers the opportunity to meet a wide cross section of buyers from different countries. In return, buyers will have the advantage of a greater product range available from one organised body. The Dubai Ports Authority is also set to work closely with the DTTC to enhance distribution throughout the Middle East. “We are very optimistic about the success of the centre and the flourishing of this business. Buyers and suppliers alike will benefit from the facilities we provide,” says Sanjay Sethi, project consultant, DTTC. “The first tea arrived from India and Vietnam. In addition, we expect Kenyan and Ethiopian tea shipments to arrive soon. The DTTC and suppliers have already initiated business deals and most of these stocks are now already sold,” adds Sethi.

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