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DTT reports 62% growth in Dubai tea trade |
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08.14.2009 |
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A statement issued by the Dubai Tea Trading Center (DTTC), an initiative of the Dubai Multi Commodities Centre (DMCC), reported a 62 percent growth in tea trade to 4.2 million kilos during the first half of this year, compared with 2.6 million a year earlier, Gulf News reported.
DTTC, a dedicated platform for tea trade, blending and packaging that offers professional advisory and tea tasting services, currently stocks teas from 13 producing countries, with plans to expand its services and the number of tea-producing countries trading through its platform.
However, the tea trade through Dubai suffered a drop in the first half of 2009, reflecting the global decline in tea production. The tea trade in Dubai fell to 48.8 million kilos in the first five months of 2009, compared with 66.6 million kilos in the same period of 2008.
Dubai's strategic location that serves 1.5 billion people is helping it to become a natural tea trading hub, although the region does not produce any. As a result, over-reliance on imports keep the city vulnerable to the fluctuations of world food trade.
The shortfall of teas produced this year has generally been affected due to drought and delayed rainfall in major tea-producing countries such as Sri Lanka and India.
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Source:www.menafn.com |
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