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Vimala Vasan

Abu Dhabi , March 10

THE Dubai Tea Trading Centre (DTTC), a Dubai Government entity formed in late 2004, has begun operations, with the receipt of first stocks of multiple origin tea, totalling 182 tonnes, from India and Vietnam.

Mr Sanjay Sethi, Project Consultant for DTTC, said the first tea consignment comprised both CTC and orthodox teas.

"In addition, we expect Kenyan and Ethiopian tea shipments to arrive in March. The DTTC along with the suppliers have already initiated business deals and most of these stocks have already been sold," said Mr Sethi in a statement from the centre.

Mr Sethi said when blending facilities were fully operational, the centre would explore more marketing options, in both the producing and consuming countries. The blending facilities would be operational this month, he added.

DTTC is a Dubai Metals and Commodities Centre (DMCC) initiative.

According to Mr Ahmed Bin Sulayem, Chief Operations Officer of DMCC: "The main objective of DTTC is to help Dubai grow as one of the leading tea trading hubs in the world. This objective is 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 induce suppliers from different tea producing countries to hold their stocks in Dubai for sales primarily to buyers in the Gulf countries , 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 - where finance could be available against hypothecation of stocks.

DTTC will give tea suppliers the opportunity to meet a crosssection 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 organised, trusted, and reputable body.

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