Dubai tea trade posts record highs for 2006

DUBAI — Dubai's total tea trade increased to a record 105.5 million kilos in 2006, up from 96.6 million kilos the previous year, according to the Dubai Tea Trading Centre (DTTC), an initiative of the Dubai Multi Commodities Centre (DMCC).

By A Staff Reporter

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Published: Mon 12 Feb 2007, 9:14 AM

Last updated: Sat 4 Apr 2015, 9:54 PM

During the same period, 4.3 million kilos of multi-origin teas were transacted through the DTTC, almost doubling the trade figures for the previous 10 months. The DTTC was established in 2005 and began operations in March of the same year.

The growth in the tea trade through both Dubai and the DTTC is particularly impressive when viewed in light of the severe drought Kenya suffered last year, which led to a 25 per cent increase in global tea prices.

Ahmed bin Sulayem, Chief operating Officer of DMCC said. "The DTTC was conceived as a vehicle to facilitate the participation of regional tea markets in international trade, and strengthen Dubai's role as a focal point for the tea trade in the region. The increase in the number of tea-producing countries trading through the DTTC and the growing volumes of trade are proof of the success of our business model. We plan to work closely with tea producers and buyers to further grow the volume of trade through the region." Sanjay Sethi, Head of the DTTC, said: "Worldwide, last year was a challenging one for the tea trade, primarily due to factors beyond its control. In Dubai, however, 2006 was marked by record gains which are indicative of the emirate's growing significance on world tea trade routes."

The Middle East accounts for 27 per cent of global tea imports. "This has positively affected the volume of tea transacted through Dubai and the DTTC," Sethi said. "In total, the DTTC has stocked and traded 6.7 million kilos of tea since the inception of the Centre."

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