Dubai officials cause anxiety in tea market.
NAIROBI -- The East African Adj. 1. East African - of or relating to or located in East Africa Standard (Nairobi) reported that top officials of the Dubai Tea Trading Centre (DTTC DTTC Design and Test Technology Conference (Intel Corporation)
DTTC Department of Trade, Tourism and Competitiveness ), a rival to the Mombasa Tea Auction, had planned to visit the coastal town of Mombasa to woo key industry players. The visit caused serious tension within the multi-billion shilling SHILLING, Eng. law. The name of an English coin, of the value of one twentieth part of a pound. In the United States, while they were colonies, there were coins of this denomination, but they greatly varied in their value. sector.
The DTTC is emerging as a major tea auction competitor to Kenya. The Standard reported that the officials were due to hold a one-day dosed door meeting with tea players in Mombasa on October 6th. The meeting is said to be aimed at convincing key players under the Mombasa Tea Trade to join the DTTC stable. The DTTC has indicated it will give Kenyan players that join free warehousing facilities and access to letters of credit in Dubai. While in Kenya, the DTTC will be hosted by the East African Tea Trade Association (EATTA EATTA East Anglian Timber Trade Association ). Some industry insiders view the DTTC move as a wider attempt to eventually control global tea trade.
Two major exporters of tea in Kenya, Lipton Brooke Bond Brooke Bond was a brand-name tea retailer in the United Kingdom.
Brooke Bond & Company was founded by Arthur Brooke who was born at 6 George Street, Ashton under Lyne, Lancashire, England in 1845. He opened his first Tea Shop in Manchester, Lancashire. and James Finlay, have already joined the DTTC, saying the move adds more value to business.