Let's drink to rising tea prices
By Li Wenfang (China Daily)
Updated: 2005-07-01 05:56

GUANGZHOU: Cao Rixiong, a Guangzhou resident who has a rather critical taste for the tea he drinks, has in the past few years narrowed his interest down to Pu'er Tea, which is grown in Southwest China's Yunnan Province.

Even more enthusiastic than him are the tens of thousands of people in South China's Guangdong Province who collect Pu'er tea, seeing it as an investment, something that will appreciate in value.

"Pu'er tea has probably overtaken oolong and green tea in Guangdong in terms of sales," said Chen Guoben, vice-chairman of the Guangdong Tea Society.

The tea, traditionally dubbed "grandpa's tea" in Guangdong for being gentle on the stomach, is increasingly believed to help people lose weight as well as having other merits.

There is also the prevailing belief that unlike other tea, the older the Pu'er the higher its value. Chen called this a speculative situation.

In an auction in Yunnan in March, a 20 gram and century-old Pu'er Tea cake was sold for 7,000 yuan (US$840), and followed a number of other eyebrow-raising Pu'er auctions. Pu'er has also been nicknamed "drinkable antique."

Raw Pu'er, which does not go through the artificial fermentation process, is what people are collecting. It has a better taste and quality after some degree of natural fermentation, Chen said.

Some traders in Guangdong are hoarding as much as tens of tons of Pu'er each, he said, adding that only a fraction of the Pu'er in the province is being traded.

Ding Qixiang, secretary-general of the Yunnan Chamber of Tea Industry, said the production of Pu'er began to grow very quickly in 2003 and accounted for about 30 per cent of the 78,000 tons of tea grown in Yunnan last year. But Ding added that it is difficult to know the true production and sales figures given the scattered operation.

Pu'er is expected to account for 70 per cent of Yunnan's tea production this year, he said.

The craze for the raw materials for making Pu'er from this year's spring crop further drove the price up soon after they became available.

Ding believed Pu'er is getting the fame and value it deserves, given its quality.

(China Daily 07/01/2005 page3)

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