In recent years, the price of Pu’er tea in China has dropped by over 80% compared to its peak. Even the “number one stock of Pu’er tea”, Lancang Ancient Tea, reported a net loss of over 308 million Chinese yuan in 2024. This has led to significant losses for collectors, with some facing losses exceeding 3 million, some fleeing, and some resorting to drastic measures.
Industry insiders point out that China’s sluggish economy and the downgrade in consumer spending have led to a reduction in the consumption of luxury items such as Pu’er tea, which is considered non-essential. Additionally, the oversupply of Pu’er tea and imbalance in supply and demand have prompted collectors to sell off in large quantities, inevitably triggering an avalanche in Pu’er tea prices.
According to a report by the South China Morning Post on August 23, a standard unit (about 15 kilograms) of Xuan Yuan series tea cakes produced by Yunnan Dayi Tea had a selling price of around 70,000 yuan in 2017, but soared to nearly 1.88 million yuan in 2021. By early 2023, the price dropped back to 1.08 million yuan, and in June of this year, it plummeted to 380,000 yuan following the burst of the speculation bubble.
A blogger named “Chen General Tea” recently mentioned in a video that the price of Dayi Qianyu Kongque Pu’er tea, which peaked at 800,000 yuan, is now around 120,000 yuan, marking an 85% decrease. “Dayi Pu’er Tea” is one of China’s most renowned Pu’er tea brands, produced by the Menghai Tea Factory in Yunnan.
Pu’er teas priced between 100,000 and 300,000 yuan have also seen a general drop of over 80%. Dayi Gaoshan Yunxiang, which peaked at 180,000 yuan, is now around 23,000 yuan, an 80% decline. Pingguo Lv, which peaked at 150,000 yuan, is now around 15,000 yuan, experiencing a 90% decrease. Jingpin Kongque, which peaked at 250,000 yuan, is now around 53,000 yuan, witnessing an 80% drop. Jinese Yunxiang, which peaked at 150,000 yuan, is now around 25,000 yuan, indicating an 83% decline.
Teas priced below 100,000 yuan have also experienced a sharp decline. Guobao Gong, which peaked at 70,000 yuan, is now around 9,500 yuan, dropping by 85%. Nanshan Xueyin, which peaked at 60… (The text may be truncated due to the character limit, please let me know if you would like to continue.)