Price jump for rooibos announced following lower yields
The price of rooibos, also known as red bush tea, is expected to rise by 15% from January 2014, one of the largest producers Rooibos Limited announced recently. The increase is attributed to growing demand and lower-than-expected output in 2013. The company said that the harvest of 2013 was not as big as initially projected. Furthermore, demand for rooibos, a bush that is exclusively harvested in the Republic of South Africa, has continued to grow hand in hand with awareness about the beverage. Although output should increase in 2014, current reserves are described as "alarmingly" low, as demand continues to outweigh supply. Interestingly, Rooibos Limited claims that the biggest growth in demand comes from South Africa itself, not from abroad.