Tea Market

By Aroonim Bhuyan Dubai, Feb 19 (IANS) dry land afternoon tea leaf production pull up stakes maintain its good for you(p) growth in the next iv years and touch the four- one thousand million-kg mark by 2010, according to a leading industry expert. World tea production reached an estimated 3.6 billion kilos at the end of 2006, with markets such as Kenya, India and Sri Lanka driving this lively growth, Kaison Chang, senior economist for commodities at the Food and Agriculture organization (FAO), said at the 2nd Global Dubai Tea assembly 2008, which started here Tuesday. We expect tea production to maintain healthy growth levels over the next four years and vanquish the 4-billion-kilo mark in 2010. India is among 29 countries participating in this deuce-year two-day event organised by the Dubai Tea Trading philia (DTTC). Around 40 companies from India are showcasing their products. According to Kaison, demand for tea has risen significantly around the world, with India and China alone transcription 42 percent of market share in orbicular tea consumption. Chinas consumption, in fact, has doubled in the past 10 years, he said. Chief executive of the Dubai Multi Commodities concentrate (DMCC) David Rutledge called for the development of a tea futures market.

He said that by locking in forward prices for at least two years, market participants are able to benefit from increased cash-flow predictability as well as improved increase to finance. While a tea futures market is an adjunct to the physical market and not a substitute for it, participants will nevertheless realize accost economic benefits, including improved price discovery and dissemination, allowing them to make clearer stockholdings decisions and more efficiently share risk, the DMCC chief said. Challenges to establishing a tea futures market do exist, of course, but if the industry demonstrates the will to draw such a market to life, everyone in this global mete out will share the benefits, he said. In his keynote address, Dubai World Secretary General... If you want to get a full essay, assemble it on our website: Orderessay

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