Dubai tea trade sees 62% increase this year

TEA TRADE: Sanjay Sethi, director of Dubai Tea Trading Centre (DTTC).

Dubai’s tea trade has seen a 62 percent increase in volumes during the first half of the year, compared to the same period in 2008.

Latest figures show 4.2 million kg of tea was registered at the Dubai Tea Trading Centre (DTTC) between January and June 2009, compared to 2.6 million kg for the same months the previous year.

But, while tea trade volumes saw favourable growth during this time, the overall tea trade through Dubai witnessed a decline, the centre said in a statement on Wednesday.

Dubai’s drop is in line with a decline in global production, which has been affected by drought in many major tea-producing countries.

Overall tea trade in Dubai fell to 48.8 million kg in the first half of the year, compared to 66.6 million kg for the same period in 2008, DTTC said.

“Although this has been a challenging year for the tea trade worldwide, DTTC has seen exceptional growth,” said Sanjay Sethi, director.

“Our continuous efforts to increase trade through DTTC have proved fruitful. The value-added services such as blending and packaging in our new facility are making DTTC more appealing for international tea traders.”

Sri Lanka, India and Kenya remained Dubai’s top trading partners, contributing more than 65 percent of the total tea trade through Dubai.

India, the largest producer of black teas, has seen crop yields fall by 11 per cent this year, while in Sri Lanka and Kenya crops are 29 and 16 percent lower respectively. Supply shortages have lead to price volatility in the tea market, DTTC said.

The centre presently stocks teas from 13 producing countries and is facilitates sales with buyers in some GCC countries, with plans to expand services to other Middle East and European markets.

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