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March 15, 2013, Friday
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THE picking of so-called pre-Qingming Longjing tea will start today, with estimates of higher prices than last year.
Longjing, or Dragon Well, is a hilly village southwest of Hangzhou's West Lake, famous for its top-quality green tea. New leaves harvested before Qingming Festival in early April are considered the best. Last year, the auction price hit a record 360,000 yuan (US$57,912) per kilogram, more expensive than gold.
Because of warmer weather, the picking of new tea begins 12 days earlier than last year, and output is expected to increase.
But even a bumper yield is unlikely to lower the cost of pre-Qingming Longjing tea.
"The price is expected to rise a bit this year," said Zhao Hongquan, a researcher with the Economy and Social Development Bureau of the West Lake Scenic Area.
"Demand for pre-Qingming Longjing tea always exceeds supply," he said, because Longjing has only 13 square kilometers of tea groves.
This year's new Longjing tea will reach the market around March 20 with retail prices reaching tens of thousands yuan per kilo.
Longjing, or Dragon Well, is a hilly village southwest of Hangzhou's West Lake, famous for its top-quality green tea. New leaves harvested before Qingming Festival in early April are considered the best. Last year, the auction price hit a record 360,000 yuan (US$57,912) per kilogram, more expensive than gold.
Because of warmer weather, the picking of new tea begins 12 days earlier than last year, and output is expected to increase.
But even a bumper yield is unlikely to lower the cost of pre-Qingming Longjing tea.
"The price is expected to rise a bit this year," said Zhao Hongquan, a researcher with the Economy and Social Development Bureau of the West Lake Scenic Area.
"Demand for pre-Qingming Longjing tea always exceeds supply," he said, because Longjing has only 13 square kilometers of tea groves.
This year's new Longjing tea will reach the market around March 20 with retail prices reaching tens of thousands yuan per kilo.
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