The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Dubai / WAM
Dubai Multi Commodities Centre (DMCC), the world’s leading Free Zone for trade and enterprise in Dubai, has confirmed that the development of its new 7,500 sqm DMCC Coffee Centre, close to Jebel Ali Port harbour, is underway, marked by a ground-breaking ceremony attended by China’s Mega Capital Halal and
Yunnan State Farms Group.
The DMCC Coffee Centre, a temperature-controlled facility, will offer world-class infrastructure and services for storage, processing, warehousing and delivery of coffee to precise specifications. 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 annually.
A report recently released by the International Coffee Organisation confirmed that global exports in coffee year 2016-2017 increased by 4.8 percent 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 percent 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.
The DMCC Coffee Centre is due to open in 2018.