A new range of premium tea inspired by Dubai will give consumers the chance to swap their Earl Grey for Khaliji Blend or Arabic Breakfast flavours.
The Dubai Multi Commodities Centre (DMCC) will launch its own tea, Shay Dubai, before the end of the year. The high-end brand will be marketed in different flavours, including Dubai Spirit, Khaliji Blend and Arabic Breakfast, the DMCC said on Wednesday. Speaking at the sixth Global Dubai Tea Forum, the executive chairman, Ahmed bin Sulayem, said the product will help the DMCC’s long-term growth plans.
“We are excited to share a first look at this premium product. Diversification into new products and markets is the essence of commerce in every sphere, but especially in a consumer product like tea,” he said.
“Dubai is at the centre of the tea-trading world, positioned between the growers to its east and the big markets to its west. It has shown how important it is to implement and act upon strategies for long-term growth. In short, to deliver results.”
Its Tea Centre handled 41 million kilograms of tea in 2015, little changed from 2014, and up from 13 million kg in 2013, Sanjeev Dutta, the centre’s director told Bloomberg. Tea futures are being considered as a new product.
The UAE’s tea drinkers spent US$63.50 per person in 2015, a figure that is expected to rise to $77.80 by 2020, according to Euromonitor International.
A 2014 study of global tea consumption ranked the UAE seventh in the world, with 1.89kg per capita. Morocco came top, guzzling 7.54kg per person.
Global tea production last year was about 5.2 million tonnes, exceeding demand of about 4.99 million tonnes, Manuja Peiris, the chief executive/statistician of London-based International Tea Committee, said.
Prices averaged $2.40 a kg last year, little changed from 2014 and down from $2.50 to $2.60 in 2013, he said.
The DMCC is a hub for a wide variety of commodities, including gold, diamonds, agricultural products, pearls and precious metals.
ascott@thenational.ae
* with Bloomberg
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