Dubai is set to launch its own tea brand, called Shay Dubai, it was announced on Wednesday.
Shay Dubai tea will be marketed under flavours Khaliji Blend, Dubai Spirit and Arabic Breakfast, Bloomberg reported, quoting comments by Ahmed Bin Sulayem, executive chairman of state-owned Dubai Multi Commodities Centre.
“This is not to compete with Lipton. We are trying to understand what the consumer wants,” he said, adding that Shay Dubai will be DMCC’s “very own signature high-end tea brand”.
"We’re excited to share a first look at this new product here,” Bin Sulayem said in a statement. “We look forward to revealing more later this year."
Global tea production last year was reportedly about 5.2 million metric tons, exceeding demand of about 4.99 million tons. Prices averaged $2.40 a kilo last year, little changed from 2014 and down from $2.50-$2.60 a kilo in 2013, Bloomberg said.
Last month, it was reported that UAE-based Rise General Trading and Tenfu, the largest Chinese tea company listed on the Hong Kong stock exchange, planned to enter the Gulf's tea market under a new joint venture.
Tea Trading International will be Rise General Trading's first venture into the FMCG industry, a statement said.
The DMCC, which is home to trading in a range of commodities and has more than 10,000 registered companies under licence, operates the DMCC Tea Centre which handled 41 million kilograms last year.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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