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Dubai officials cause anxiety in tea market.

NAIROBI -- The East African Standard (Nairobi) reported that top officials of the Dubai Tea Trading Centre (DTTC), 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 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). 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 and James Finlay, have already joined the DTTC, saying the move adds more value to business.
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Title Annotation:World News: Coffee and Tea Reports from the Front Line
Publication:Tea & Coffee Trade Journal
Geographic Code:6KENY
Date:Nov 20, 2005
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