The cotton trading business of government-owned Dubai Multi Commodity Centre (DMCC) generated $100m last year, its CEO said on Tuesday, with a rising number of commodity firms setting up in the emirate's trade hub.
The centre, which also hosts trade in raw materials such as gold, diamonds, and oil, currently has about 2,800 registered companies involved in commodity trade, and aims to become a key link in the global cotton supply chain.
Two hundred new commodities firms registered in January and February this year, the centre said, boosting its business.
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