After reaching its peak in April, Pu-erh price fell sharply in May. CCTV recently featured a 30 minute program on the Pu-erh bubble and its burst. It documented the sharp rise and fall of Pu-erh price since last year. In large markets like Guangdong, Beijing, and Shanghai, Pu-erh price dropped as much as 40%.
Thinking back, I still could not believe what happened this spring. Heated market kept pushing raw material prices to new highs. As the CCTV program stated, local farmers raised their price expectations in the wake of this extreme Pu-erh heat. Concerns over this year’s new production prices prompted people into collecting past years’ productions. It was quite common to see that the same Pu-erh demanded twice of March’s price in April. Now, less than two months later, it is like game over…
I am happy to see the bubble burst. My affection for Pu-erh remains the same. Pu-erh is still the same Pu-erh. Let’s weed out those commercial plays, and enjoy and appreciate a good cup of Pu-erh.