The fragrance of State Guest Da Hung Pao tea is said to be so long-lasting that if you drink a glass one morning, the delicate perfume will still be detectable about you the morning after.

The story’s a little much, but people do pay big money for this premium brand of da hung pao, similar to oolong, a type of semi-fermented tea.

At Wu Yi Star Teahouse, a tea shop with 40 stores throughout greater China, the price for 50 grams–a handful of leaves—is 16,800 Hong Kong dollars (US$2,160). (The same amount of other da hung pao teas costs HK$138.)

Every year, the 100 canisters of State Guest Da Hung Pao tea sell out within two months. A waiting list for the 2011-year harvest has already begun.

Here’s why many people will pay so much for this tea, according to Tracy Ho, general manager of Wuyi Star Teahouse general manager.

Click here to continue reading at The Wall Street Journal