Reflections about the pu’er market and Laobanzhang

Everything about tea is born from an initial effort and suffering, and through these it is consecrated in a sort of spiritual life that is strengthened over time, in its determined and individual character. Tea is not the immediate gift of nature. Immediacy in tea always comes at a high price.

Laobanzhang is experimenting a pattern already seen in areas where previously a deep famine reigned; now money is spent in the most disparate ways, new contemporary-style buildings arise and what comes from the past is quickly supplanted by the well-being of a conscience that appears liberated from the oppressive spirit of the previous period.

The new generations are not destined to experience that effort and suffering, the natural rhythm of things, the process that brought Laobanzhang tea to what it is even before the invisible hand of Yunnan moved prices in the spring of 2007.
Everything happened very quickly, in 20 years a main road capable of connecting all the villages once disconnected from the world was built, new branches were opened, new investment funds and capital arrived from holding companies which saw a safe source of investment. All of this is reminiscent of a situation before the burst of the speculative bubble, but it is not, all of this is the present.
The price of raw tea has gone from 8 yuan/kg to 1800 in the famous spring of 2007, up to exceeding 13000 today, an escalation that does not seem to stop.

The tea leaves are sold to the shops before they are processed most of the time without any intermediary, just as en primeur wines are sold in Bordeaux before they end up in the bottle. This is what has been happening for years now in these mountains and which has led many merchants to abandon them, in what we can define as the third emigration of Laobanzhang.

How much of the real Laobanzhang is left today and how much it is still worthwhile for tea merchants to look for a product that no longer lives for its uniqueness and soul? How much the economic value of a place can become a burning glass of its greatness and how long will we wait before another crash of the speculative bubble?