TAIPEI (Taiwan News) — A winning bid of NT$250,000 per jin (0.61 kilograms) was awarded to Ruixing Tea Company at the Taiwan Aged Tea Quality Evaluation Competition and Auction held in Taichung on Saturday (July 13).

Proceeds from the auction will benefit Taiwan's tea industry promotion efforts. The event was held concurrently with the Taichung International Tea, Coffee and Bakery Show, per CNA.

Other prize-winning teas commanded high prices as well. The second-place finisher sold for NT$80,000 per jin, while the third-place tea fetched NT$60,000 per jin, reflecting a NT$10,000 increase from the previous year.

Chen Ming-fang (陳明芳), leader of the Taiwan Tea Merchants, said the competition saw 105 entries. Chen explained the event aimed to raise public awareness and appreciation for Taiwan’s aged tea, promote the industry's rich and diverse offerings, and support it financially through the auction.

The 2024 Taiwan Tea Culture Industry International Forum was also held during the event. Organized by the Ministry of Agriculture's Agriculture and Food Agency and its Tea and Beverage Research Station, along with other entities, the forum provided a platform for industry professionals to discuss tea in all its many facets. 

Organizers hope the tea exhibition will inspire tea farmers and merchants. Ultimately, they aim to cultivate a nationwide tea-drinking culture by promoting the enjoyment of high-quality tea.