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 Wysłany: Pią 10:08, 01 Kwi 2011 Temat postu: Investors get picky about teas |
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Investors get picky about teas
While many rich Chinese people are happy to fork out $2,000 on a bottle of Chateau Lafite-Rothschild, one of the most expensive wines in the world, others are turning to a more traditional Chinese beverage with centuries of culture behind it. Rare and exotic teas are fast developing into investment opportunities with the marketing potential [link widoczny dla zalogowanych] that French vintage wines have possessed for decades.
Xinhua News Agency reported futures in the best quality Longjing (or Dragon Well) spring tea, the leaves of which will be picked before early April,[link widoczny dla zalogowanych], have already sold out at 60,000 yuan ($9,146) a kilogram.The teas are mainly given as presents between businessmen after being packaged into a luxury product, according to Zhu Baichang, president of Hangzhou Longjing Tea Group.The price of Longjing has boosted expectations for this year's spring tea market. Experts said the average price set by farmers might be up 15 percent because of high demand, unusual weather that has improved quality [link widoczny dla zalogowanych] and soaring labor costs. For some specific brands, the retail price could increase more than 50 percent.Spring is the crucial season for the tea business. Tea that matures then is of the highest quality thanks to low temperatures and dry conditions. Research by the China Tea Marketing Association (CTMA) shows that the trade in spring tea occupies 75 percent of the entire year by value, although it consists of only 39 percent of the year's production by volume.
In Beijing's Maliandao Tea Street, the biggest tea trade hub in southern Beijing, business is getting busier day-by-day. "We have to delay our closing time from 6 to 8 pm from this week (from March 21)," said Chen Jiatong, a tea retailer [link widoczny dla zalogowanych] from Fujian province, from where most tea entrepreneurs come. "We have been selling about 100 presentation boxes a day recently. Each one contains 500 grams of Longjing tea. Those priced between 600 and 1,000 yuan a box sell the best," she added.According to Chen, this year's spring tea came on the market in mid-March, two weeks later than usual, because spring was much colder. The delayed picking time reduces production of spring tea but improves the quality, both of which lead to higher prices.
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