Dubai Multi Commodities Center (DMCC), which provides the infrastructure for commodities trade in Dubai, plans to add cacao to the list of commodities traded through its facilities.
DMCC will initially incubate a select range of cacao services within its DMCC Coffee Centre in Jebel Ali starting from mid-2021. As part of its long-term development strategy, it hopes to make Dubai an international trade hub for cacao trade it said in a statement Sunday.
Ahmed bin Sulayem, the chairman and CEO of DMCC said cacao and its high-growth potential was a logical next step after the success of its tea and coffee centres.
The DMCC Coffee Centre supports the coffee industry from crop to cup and caters to farmers, exporters, traders, roasters and retailers.
“Whilst connecting producers with consumers will be an important part of our model, we will ensure DMCC Cacao Centre follows our high-level approach toward sustainability, which prioritises driving value across the entire supply chain,” he added.
DMCC is in contact with industry players, including Blue Stripes Urban Cacao and stakeholders across West Africa and South America, in order to better understand the needs of the market and how Dubai can play a central role in supporting its sustainable growth.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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