Dubai remains the second largest export destination for both the Indian and Sri Lankan tea.
According to the Dubai Tea Trading Centre (DTTC), Sri Lanka, India and Kenya are Dubai’s top trading partners, contributing over 65 per cent of the total tea traded through Dubai.
DTTC, which is an initiative of Dubai Multi Commodities Centre (DMCC), has also announced a record 7.5 million kilos of tea traded through the Centre in 2009, despite the adverse weather conditions reducing global tea production.
The average 2009 auction tea prices in Sri Lankan was at $3.32 per kilo, Kolkata at $2.90 per kilo and Mombasa at $2.72 per kilo, with an overall average world tea auction prices increasing by 12.4 per cent compared to the same period in 2008, DTTC said.
This was due to the direct consequence of global decline in tea production, generally affected due to drought and delayed rainfall in major tea-producing countries.
Drought resulted in global black tea crop deficit of approximately 56.6 million kilos, equating to a decline of 3.2 per cent compared to 2008.
"In the initial few months of 2009, the global tea industry has witnessed an unavoidable production decline due to major drought in many tea-producing countries," Executive Chairman, DMCC Ahmed bin Sulayem said.
Sanjay Sethi, Director, DTTC, said the centre is growing consistently, with increased transactions and global tea producers, merchant exporters and buyers establishing their base here.
DTTC will also host the 3rd Global Tea Forum in Dubai, from March 9-10, 2010.
DTTC, at present, stocks teas from 13 producing countries, including Kenya, India, Sri Lanka, Indonesia, Malawi, Rwanda, Tanzania, Zimbabwe, Ethiopia, Vietnam, Nepal, China and Iran.
Source : Business Standard