Multi origin teas arrive in Dubai

This step was considered a response to the Dubai government's directives to increase the deal volume of multiple origin teas through Dubai.

According to Ahmed Bin Sulayem, Chief Operations Officer for DMCC; "The main objective of DTTC is to further grow Dubai as one of the leading and main tea trading hubs in the world. 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."

"Our role is to bring more attention and investments to this vital business sector, and facilitate the interaction between tea suppliers and buyers from all over the world", added Bin Sulayem.

The DTTC will induce 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.

DTTC will give tea suppliers the opportunity to meet a wide cross section of buyers from different countries. Likewise, DTTC tea buyers will benefit from the convenience and confidence of purchasing the required products with a variety of options from one organized, trusted, and reputable body. In addition, suppliers can sample their tea products through the DTTC and generate business for their stocks lying in the origin countries.

Through the facilities provided DTTC in conjunction with the Dubai Ports Authority (DPA), Dubai plays a critical role and is strategically located for the onward movement of multi origin teas to diff parts of the region.

Sanjay Sethi, Project Consultant for DTTC, said, "We are very optimistic about the success of the centre and the flourishing of this business. We have already seen very positive signs after feedback we received from the first initiation of contact with different key players in the industry. Buyers and suppliers alike will benefit from the facilities we provide and the right niche for bringing both parties together."

"The first tea arrived from India and Vietnam - CTC and Orthodox teas. In addition we expect Kenyan and Ethiopian tea shipments to arrive in March. The first consignments of tea that arrived at the DTTC shed were 182 Mt. The DTTC along with the suppliers have already initiated business deals and most of these stocks are now already sold", said Sethi.

"When our blending facilities are fully operational we will explore more marketing options, in both the producing and consuming countries. The blending facilities would be operational by mid of this month" he concluded.