Dubai Multi-Commodities Centre (DMCC) has confirmed that the construction of its new Coffee Centre, close to Jebel Ali Port harbour, is underway.
The DMCC Coffee Centre, a temperature-controlled facility, will offer infrastructure and services for storage, processing, warehousing and delivery of coffee to precise specifications, a statement said.
The centre is being developed by China’s Mega Capital Halal (MCH) and Yunnan State Farms Group.
It is projected to handle up to 20,000 tonnes of green coffee bean annually, with an estimated trade value of up to $100 million annually and is expected to be completed next year.
A report recently released by the International Coffee Organisation confirmed that global exports in coffee increased by 4.8 percent to 122.45 million bags last year compared to 116.89 million bags in the previous year.
The UAE sits at the centre of a region which now accounts for 8 percent, or $6.5 billion, of global consumer spend on coffee. According to Euromonitor International, this could increase by up to a third by 2030.
Matthew Pang, director, Mega Capital Halal (MCH), said: “Dubai is a key international gateway for trade as it connects the producing countries with the consumer as seamless as possible. DMCC comes with a strong track-record in enabling this process from infrastructure-build through to trade facilitation, and our partnership will no doubt bring a much consumed commodity to Dubai and beyond."For all the latest business 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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