Dubai Multi Commodities Centre (DMCC), a leading free zone for trade and enterprise in Dubai, has held the ground-breaking ceremony of its new 7,500-sq-m DMCC Coffee Centre, which is close to Jebel Ali Port harbour, and was attended by two major Chinese firms.
The development of the new coffee centre is underway and the ceremony was attended by China’s Mega Capital Halal (MCH) and Yunnan State Farms Group, said a statement from the DMCC.
The centre, a temperature-controlled facility, will offer world-class infrastructure and services for storage, processing, warehousing and delivery of coffee to precise specifications, it said.
The centre is projected to handle up to 20,000 tonnes of green coffee bean annually, with an estimated trade value of up to $100 million, it added.
Ahmed Bin Sulayem, executive chairman, DMCC, said: “There are few things more satisfactory than when a partnership of this scale with MCH and Yunnan State Farms Group comes to fruition, especially when it benefits our trading community here in Dubai as well as connecting right into China’s ambitious trade programme and corridor, Belt and Road.”
“The ground-breaking of the coffee centre also marks an important milestone for DMCC and Dubai, as once ready in 2018, we will be the first in the UAE with the capacity to handle up to 20,000 tonnes of green coffee bean at a value of up to $100 million annually,” he said.
A report recently released by the International Coffee Organization confirmed that global exports in coffee year 2016/17 increased by 4.8 per cent to 122.45 million bags compared to 116.89 million bags in the previous year.
The UAE sits at the centre of a region which now accounts for 8 per cent or the trade, or $6.5 billion of the $85 billion 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,” he said.
The DMCC Coffee Centre ground-breaking ceremony was attended by Ahmed Bin Sulayem, executive chairman, DMCC; Gautam Sashittal, chief executive officer, DMCC; Sanjeev Dutta, executive director, commodities, DMCC; Matthew Pang, director, MCH; Tim Chong, director business development, MCH Commodity Trading DMCC; Irene Zhu, business development, MCH Commodity Trading DMCC; Wu Zhonghong, deputy general manager, Yunnan State Farms Group Co Ltd; and Zhang Jiwei, deputy director, Yunnan Coffee Factory.
The DMCC Coffee Centre is due to open in 2018, it stated. – TradeArabia News Service