SIP Markets Specialty Tea, Coffee & Cocoa Contact desk

Pu-erh

PUERHSpecialty Tea, Coffee & Cocoa1 listed market

Pu-erh is tea from the large leaf Camellia sinensis variety assamica grown in Yunnan, processed into a sun dried base called maocha and then either left to age slowly or put through an accelerated wet piling fermentation. The two resulting products are different goods. Raw pu-erh, sheng, is maocha that has been steamed and pressed or left loose, and changes over years and decades of storage as microbial and oxidative activity work on it. Ripe pu-erh, shou, is maocha piled under controlled heat and humidity for weeks so that the same transformation is forced in a single production run. Both are sold loose or compressed into cakes, bricks, tuo and other forms, each stamped with the producer, the recipe and the year. Pu-erh is unusual among teas in that storage history is part of the specification and in that vintage and provenance carry a large part of the value.

Listed pu-erh markets

Each line is a grade at a delivery point. Open one for its full specification and terms.

Grades

Pu-erh is graded by type, raw or ripe, by maocha leaf grade, by compression form and net weight, and by production year, pressing batch and storage history.

Type and fermentation

6 grades

ISO 20715, tea, classification of tea typesWhether the tea was left to age or put through wet piling, and the processing parameters of that piling. This is declared first because raw and ripe pu-erh are not substitutes.

GradeDefinition
ShengRaw pu-erhSun dried maocha, steamed and pressed or left loose, with no wet piling. Changes over years of storage.
ShouRipe pu-erhMaocha wet piled under controlled heat and humidity so that fermentation is completed during manufacture.
Wet piling durationDaysThe number of days the shou pile was held. Declared on the contract, along with the number of turns.
Pile fermentation degreeLight, medium or heavyHow far the pile was taken. Declared, as it governs the character of the finished tea.
Maocha dryingSun dried or oven driedGenuine pu-erh base is sun dried, shai qing. Oven or machine dried base will not age and must be declared as such.
Fixing temperatureWok fixingPu-erh maocha is fixed at a lower temperature than green tea so that enzyme and microbial activity survive into storage. Declared where the buyer is paying for ageing potential.

Maocha leaf grade

8 grades

Yunnan trade grade nomenclature for sun dried maochaThe numbered grade of the sun dried base, set by the size and tenderness of the plucked leaf. Lower numbers are finer, smaller leaf; higher numbers are larger, coarser leaf. These are size descriptions, not quality ranks, and blends of several grades are normal.

GradeDefinition
Gong tingPalace gradeThe finest and smallest bud material, used chiefly in shou. Sits above the numbered ladder.
Grade 1Fine leafBud and first leaf.
Grade 3Medium fine leafBud with first and second leaf.
Grade 5Medium leafSecond and third leaf.
Grade 7Coarser leafThird and fourth leaf, the backbone of many pressed recipes.
Grade 9Coarse leafLarger mature leaf, used for structure and for brick and tuo pressing.
Huang pianYellow leafLarge mature leaf sorted out of the maocha, sold as a separate line.
Stem contentPercentage by massStem left in after sorting, stated on the contract.

Material and provenance

6 grades

Declared on the contract and on the pressing wrapperWhere the leaf came from and what kind of plant it came from. In pu-erh these declarations are the substance of the contract, so they are stated explicitly and documented.

GradeDefinition
GushuOld tree materialLeaf from old growth trees. The contract states the village, the garden and the basis on which the age is evidenced.
Xiaoshu and taidiYounger tree and plantation materialLeaf from younger trees or terraced plantation. Declared as such.
Village and mountainNamed originYiwu, Bulang, Banzhang, Jingmai, Bingdao, Xigui, Nannuo and the other named areas. Declared by name.
Single origin or blendRecipe declarationWhether the pressing is single village and single season, or a blended recipe. Blended recipes are declared by their recipe number.
Spring, summer or autumn materialPlucking seasonDeclared with the year. Spring material carries the premium.
Producer and pressing batchFactory and batch referenceThe factory, the recipe number and the batch code stamped on the wrapper and the nei fei ticket inside the cake.

Form, weight and storage

9 grades

Contract specification for compressed and loose pu-erhThe physical presentation of the lot and its documented storage history, both of which are part of the specification for this commodity.

GradeDefinition
Bing chaRound cakeDisc pressing, most commonly 357 grams, also produced at 100, 200 and 400 grams. Net weight stated on the contract.
Zhuan chaBrickRectangular pressing, commonly 250 or 1000 grams.
Tuo chaBowlDomed pressing, commonly 100 or 250 grams.
Loose leafSan chaUnpressed, sold by weight.
Compression tightnessStone pressed or machine pressedStone pressing gives a looser cake that ages faster. Declared on the contract.
Production yearYear of pressingStated as a year. Establishes the vintage.
Storage location and conditionsDry or humid storageKunming, Guangdong, Hong Kong, Taiwan, Malaysia and other storage histories produce materially different tea from the same pressing. Declared with the years held in each location, together with the temperature and relative humidity where recorded.
MoistureMaximum percentage by massDetermined on the delivered lot. Stated low enough to exclude a cake that has taken up water and is at risk of unwanted mould.
Wrapper and ticket integrityDocumentary checkThe outer wrapper, the nei fei ticket pressed into the cake and the nei piao slip. Examined and photographed on inspection, because they are the provenance record for the lot.

Grades outside this list trade on request. Send us the contract specification you work to and we will price against it.

Locations

CountryRegionWe trade it as
ChinaEast AsiaOrigin
Hong KongEast AsiaOrigin and destination
TaiwanEast AsiaOrigin and destination
MalaysiaSoutheast AsiaOrigin and destination
SingaporeSoutheast AsiaOrigin and destination
South KoreaEast AsiaDestination
JapanEast AsiaDestination
VietnamSoutheast AsiaOrigin and destination
MyanmarSoutheast AsiaOrigin
LaosSoutheast AsiaOrigin
ThailandSoutheast AsiaOrigin and destination
United StatesNorth AmericaDestination
CanadaNorth AmericaDestination
United KingdomEuropeDestination
GermanyEuropeDestination
FranceEuropeDestination
NetherlandsEuropeDestination
RussiaEuropeDestination
AustraliaOceaniaDestination
United Arab EmiratesMiddle EastDestination

Origins and destinations outside this list trade on request. We are not limited to the locations shown here.

Timing

Harvest is when the crop is taken at origin. Arrival is when a shipment from that origin typically lands in a consuming market. The gap between them is processing, grading and the voyage.

HarvestArrival

OriginJFMAMJJASONDWindow
ChinaArrivalHarvestHarvestHarvestHarvest and arrivalArrivalArrivalHarvest and arrivalHarvestArrivalHarvest Mar to Oct, arrival Jun to JanYunnan spring plucking from March to May is the sought material. Autumn plucking from September. Maocha is pressed through the year, and aged stock ships from storage at any time.
MyanmarArrivalHarvestHarvestHarvestHarvest and arrivalArrivalArrivalHarvest and arrivalHarvestArrivalHarvest Mar to Oct, arrival Jun to JanShan State plucking follows the same spring and autumn pattern as adjacent Yunnan.
LaosArrivalHarvestHarvestHarvestHarvest and arrivalArrivalArrivalHarvest and arrivalHarvestArrivalHarvest Mar to Oct, arrival Jun to JanPhongsaly and the northern provinces pluck in spring and autumn.
VietnamHarvestHarvestHarvest and arrivalHarvest and arrivalArrivalArrivalHarvestHarvestArrivalArrivalHarvest Mar to Oct, arrival May to DecHa Giang and the northern highlands produce sun dried large leaf base on the same calendar.
TaiwanHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest Jan to Dec, arrival Jan to DecA storage market rather than an origin. Aged stock ships from warehouse at any time.
MalaysiaHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest and arrivalHarvest Jan to Dec, arrival Jan to DecA storage market. Aged stock ships from warehouse at any time.

Windows outside this pattern trade on request, including carry, forward positions and stock already sitting in a destination warehouse.

Customs, packing and contract terms

Indicative terms for pu-erh. Tariff classification is the importer’s responsibility and limits change, so confirm both against the destination customs authority and the current regulation before you fix a contract.

  • HS heading0902.40 Fermented tea, immediate packings exceeding 3 kg
    0902.30 Fermented tea, immediate packings of 3 kg or less
  • PackingTea in foil lined paper sacks, plywood chests or corrugated cartons of 20 kg to 60 kg. Green coffee in 60 kg or 69 kg jute bags, or 1 t bulk container liners with GrainPro or equivalent barrier for specialty lots. Cocoa in 62.5 kg or 65 kg jute bags.
  • Container loading20ft: 18 t to 21 t bagged. 40ft: 24 t to 26 t with a bulk liner. Coffee and cocoa are weight limited, tea is volume limited.
  • Contract and arbitrationCoffee on the European Coffee Contract or GCA terms with ICE Futures US as the price reference, arbitration under ECF or GCA rules. Cocoa on Federation of Cocoa Commerce or CMAA contracts with FCC arbitration in London. Tea on the rules of the selling auction centre or on the terms of the importing association.
  • Destination limitsEU pesticide MRLs under Regulation 396/2005, where anthraquinone and glyphosate are the recurring tea failures. Ochratoxin A and aflatoxin limits and cadmium limits on cocoa under Regulation 2023/915. EUDR (Regulation 2023/1115) due diligence with plot geolocation applies to cocoa and coffee. US FDA import alerts apply to pesticide residues and to mould.

Common questions

What grades of pu-erh does SIP Global trade?

We quote 29 published grades of pu-erh, including Sheng - Raw pu-erh, Shou - Ripe pu-erh, Wet piling duration - Days, Pile fermentation degree - Light, medium or heavy, Maocha drying - Sun dried or oven dried and Fixing temperature - Wok fixing. Every grade is tied to a delivery point and a settlement route. Grades outside the published list are priced on request.

How is pu-erh graded?

Pu-erh is graded by type, raw or ripe, by maocha leaf grade, by compression form and net weight, and by production year, pressing batch and storage history. Grading runs on 4 systems: Type and fermentation, Maocha leaf grade, Material and provenance and Form, weight and storage.

Where does SIP Global trade pu-erh?

We trade pu-erh in China, Hong Kong, Taiwan, Malaysia, Singapore, South Korea, Japan and Vietnam and 12 further markets. Origins and destinations outside this list trade on request. We are not limited to the locations shown.

When is pu-erh harvested and when does it arrive?

Typical windows are China: harvest mar to oct, arrival jun to jan; Myanmar: harvest mar to oct, arrival jun to jan; Laos: harvest mar to oct, arrival jun to jan; Vietnam: harvest mar to oct, arrival may to dec; Taiwan: harvest jan to dec, arrival jan to dec. Harvest is when the lot is taken at origin, arrival is when a shipment from that origin lands in a consuming market. Windows outside this pattern, including carry, trade on request.

What is the HS code for pu-erh?

Pu-erh is normally classified under HS 0902.40 (fermented tea, immediate packings exceeding 3 kg) and HS 0902.30 (fermented tea, immediate packings of 3 kg or less). The heading follows the form the goods are in at the border, and national tariffs extend it beyond six digits, so confirm the full line with the destination customs authority before you fix a contract.

How do I get a price for pu-erh?

Send the grade, the origin and the delivery window to the SIP Global desk. That is enough for a trader to come back with a level and a settlement route. 1 listed pu-erh market is published on this page, each with its full specification and terms. We take both sides, physical and financial, prompt to long dated.

Standards and data sources

The grading language on this sheet follows published standards. Trade volumes and tariff lines are public record. Verify anything here against the source.

  • ISOInternational Organization for Standardization
  • UN ComtradeOfficial international trade statistics by HS code
  • ITC Trade MapBilateral trade flows and tariff data
  • FAOSTATFAO production and trade series for agricultural commodities

Price this with our desk

Grade, origin and window if you have them. If what you are carrying does not fit the sheet above, describe it in your own words and a trader will take it from there.

Nothing here matches what you are holding? Send it anyway. The sheets cover the markets we publish, not the limit of what the desk will look at.

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