• Cold-Brewed Calm

    Equitea co-founder Quentin Vennie discusses three new condition-specific canned, cold-brewed tea blends to ease anxiety and depression, improve focus, and calm young people coping with ADHD.

    • Caption: Quentin Vennie, co-founder of Equitea, Baltimore, Maryland
    Quentin Vennie, co-founder of Equitea, Baltimore, MD
    Quentin Vinnie, Co-founder Equitea
    Quentin Vennie, Co-founder Equitea

    Cold-Brewed Calm in a Can

    Author and wellness expert Quentin Vennie, with his wife Erin, on the advice of their son’s neurologist, found that green tea helped their seven-year-old boy maintain calm and focus. Diagnosed with ADHD, a condition leading to impulsive, hyperactive behavior, tea’s unique combination of L-Theanine and Caffeine offered relief, but loose-leaf teas were challenging to brew and not that tasty to a pre-teen. Quentin and Erin added calming botanicals to make the tea palatable. Inspired by their success, they launched a tea venture that produced packaged teas that became a favorite of Gwyneth Paltrow, whose company goop sells the teas online.

    Dan Bolton: I see that Equitea teas and botanicals are purpose blended. Will you tell listeners about your personal experience and how it led to their development?

    Quentin Vennie: We created Equitea essentially out of necessity. My son was diagnosed with ADHD (Attention-Deficit/Hyperactivity Disorder) when he was seven. Given my own history of dealing with mental health issues, generalized anxiety disorder, panic disorder, depression, and addiction to prescription pills, I wanted to manage his diagnosis holistically.

    His neurologist recommended that he drink green tea before any big assignments or tests in school. The idea was that the L-theanine and the caffeine would give him a calm focus like Adderall would but without the risk of dependency or any negative side effects.

    When my wife and I went out to buy different types of green tea, we found out quickly that many of the teas sold in retail stores weren’t of the best quality. They had minimal nutrition value, and they taste horrible, right? And so, we made the decision to make this work by learning as much as we could about green tea. The challenge was figuring out how to make it palatable for a nine-year-old struggling with ADHD. We wanted to ensure that every ingredient we blended with that green tea would assist him in that calm focus and not give him any ingredients that would make him hyper. So, we added things like lavender, lemon verbena, and lemongrass, things known to help with anxiety. Not only did it taste good, but it would serve the benefits we were looking for.

    Later my wife and I made the decision to move forward by starting a tea company and creating our own blends to share, with every ingredient geared toward the desired result.

    Dan: You recently added a line of canned tea using the cold brewing method. Will you talk about your reasoning?

    We first launched as a loose-leaf company. Our consumers said that one of their biggest hurdles was that they didn’t have the necessary equipment and skills to brew it the way the blends were designed to be brewed. With cans, we take the guesswork out of it for many consumers. The process of cold brewing lets us extract a lot of the flavor while reducing the astringency that often accompanies green tea and some black teas that are astringent due to high water temperatures and long brew times.

    We wanted to make sure that our tea delivered maximal flavor and maximal benefit and is a product that is shelf stable. One thing I learned while researching the cold brewing process is that it also helps reduce the amount of caffeine in each serving. Since the tea is marketed as safe for children, we wanted to keep the caffeine content to a minimum.*

    See: Tea Benefits Children Onward from Age 4

    Dan: What is the milligram content for caffeine in a typical 12-ounce can?

    Quentin: The green tea is about 18 milligrams, and the black tea is a little bit higher, closer to about 30 to 35 mg.

    Dan: So that’s about half of what you would find in a regular cup of tea.

    Quentin: Yes, exactly.

    Dan: You use adaptogens. You mentioned them in three new blends. Will you describe which adaptogens are present and how they benefit tea drinkers?

    Quentin: Absolutely. So, each tea has a different adaptogen. Our focus blend has Astragalus Root1, Our Recharge, black tea blend, has Ashwagandha2, and our Recover hibiscus blend, as Schisandra Berry3.

    Adaptogens are geared toward helping the body and the mind to fight off stress and to recover better from stress. And, you know, we’re in a space of COVID uncertainty, and people are potentially moving into a recession. In prioritizing our mental health, it’s important to figure out how we can mitigate and reduce as much stress as possible.

    Dan: In formulating the beverages, you chose all-natural, organic, full leaf teas and botanicals cold-brewed in small batches. Will you discuss sourcing?

    Quentin: Sourcing is of the utmost importance to us, right? We’re communicating directly with small farms and farmers, you know, all across the world.

    For us to create a USDA-certified organic product, every ingredient we use has to essentially fall under the same regulations as we do in America.

    We wanted to make sure that everything was sustainable, sustainably sourced, non-GMO organic, and had the highest quality.

    I often say that in America, tea hasn’t had its coffee moment yet. We don’t have a tea culture in America that has been, you know, stamped. And so a lot of the teas that I’ve had growing up are just very low quality, and just like any other crop that’s grown, right, if it’s not growing organically, there can be chemical compounds that are found in that crop that doesn’t necessarily serve the body. We firmly believe that everything we put into our bodies matters.

    The challenge was figuring out how to make it palatable for a nine-year-old struggling with ADHD. We wanted to make sure that every ingredient that we blended with that green tea would assist him in that calm focus and not give him any ingredients that would make him hyper.

    – Quentin Vennie

    Dan: The 12-pack has a $47 suggested price, about $4 per can. Tell us about your strategy for bringing the brand to people.

    Quentin: We just launched 100% online, through our website, direct-to-consumer. We are in talks with a few larger retailers and convenience stores. We plan to continue to grow and scale so that we can reduce the prices a little bit. We’re still a very small company, and it’s been a bit challenging with inflation. My goal is to grow this to be a national company. We really want to make wellness equitable and accessible.

    Dan: Finally, tell us the story about how you came to the attention of goop Founder & CEO Gwyneth Paltrow.

    Quentin: On social, we really connected with the work I was doing in the wellness space. She was a part of the initial ideation of the tea Company. She was one of the first people to try our blends, and she immediately fell in love with them. And, you know, our relationship just grew. She’s one of the most incredible human beings I’ve ever met.

    And she’s been incredibly supportive throughout this entire process.


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  • Resilient & Resourceful: Evy Chen

    In 2020 US restaurant and foodservice sales declined by $240 billion (22% for the year) placing unprecedented stress on food and beverage suppliers. In Boston, Evy’s Tea founder Evy Chen watched as standing orders for her organic, sustainable, artisan cold-brewed bottled teas cease overnight. Revenue fell 82%. She persevered, observing that COVID lockdowns led to a surge in online transactions and altered long-established consumer buying habits. Within a year she had reformulated, rebranded, and relaunched online as a successful direct-to-consumer brand known as Evy.

    Resilient & Resourceful

    The tea industry globally demonstrated its ability to recover quickly during two years of disruption. Less is said about individuals who overcame pandemic-related obstacles and the resourcefulness of people that grow, process, and trade tea. To remedy that, Tea Biz is sharing stories of resilience, reinvention, pivots, and clever workarounds that exceeded expectations.

    Hear the interview
    Evy Chen on bouncing back after a dramatic drop in sales of her namesake cold-brewed tea.

    Evy founder Evy Chen

    A Story of Reinvention

    By Dan Bolton

    Seven years ago Evy Chen pioneered small-batch, cold-brewed tea in bottles. Her tea bar at 253 Amory St., Boston doubled in size in 2018 serving cold tea on draft, kombucha, sparkling drinks, iced coffee, and bottomless boba, as well as treats sourced from local businesses such as Pain d’Avignon and Fomu. In early 2020 her carefully constructed venture nearly collapsed. During the months that followed Evy reinvented the product line as a fresh-brewed tea made from concentrate and sold in cans and available direct-to-consumer.

    Dan: COVID lockdowns along the Eastern Seaboard shuttered foodservice operations and led to a surge in online transactions that altered long-established consumer buying habits. The impact on the beverage industry was severe. Tell us about those early days.

    Evy Chen: Everybody was freaking out. Right? People were scared, people were binge eating. A lot of people’s insecurities came out during COVID.

    I was sitting there watching everyone run around like crazy chickens thinking that’s been my world for, you know, the past 10 years.

    I didn’t have a lot to work with, so I had to be very resourceful. Being a woman of color and an immigrant, and a younger person, I think that resilience was always there.

    COVID really brought more of a focus and led me to say, ‘this is my game.” Looking around I said, “Okay, now it’s chaos, but within the chaos, where is the opportunity?’

    This is hands down the hardest thing I’ve ever done. Everything I’ve established in the past 10 years gone, products gone, clients gone, people gone. I practically had to rebuild a company with not much money during COVID.

    Evy Chen

    Dan: So what were your first steps? Let’s get granular for our listeners.

    Evy: Starting from retail pricing, you want to keep your costs at 25%. Right? You have to keep your margin at a certain level, and then it’s reverse engineering.

    So, we do an eight-pack right now on Amazon and www.evytea.com.

    That’s one single flavor so shipping costs exactly the same whether you buy one or two packs. The math becomes very simple. It’s not necessarily about cutting weight, per se, it’s about what kind of products and services can you provide to add value because your delivery cost is fixed. Our subscription service, for example, lets customers determine flavor and frequency and they are free to swap, pause or cancel at any time.

    From a shipping perspective, where we caught cost wasn’t necessarily at the very end of shipping to customers, it’s chasing it all the way back to the beginning of the supply chain and saying, okay, the containers now cost, you know, 15x more than before. So, how do we engineer this map and identify whose truck we can get on that’s already coming this way, instead of hiring our own trucks? We got really, really creative.

    We also had to figure out a way to raise more capital upfront and work out a contractual deal with our suppliers. You lock in costs where you can to control expenses. So, it’s a lot of tweaking the P&L [profit & loss statement], tweaking the clock, tweaking the engineering where it hurts the most.

    “No one had thought to cold brew tea before, but it brought out all of the great attributes that were lacking in cheap iced tea.”

    – Evy Chen

    Dan: Describe for listeners your innovation in brewing a tea concentrate to trim costs. Previously you steamed the leaf to release flavor and aroma then relied on small-batch brewing for 16 hours before bottling.

    Evy: We developed our own tea base that is a concentrate. It’s one thing I’m most proud of as a food scientist, to scale the exact sensory experience of a craft tea with the stability, the shelf life, and everything that you can imagine about being a larger manufacturer to capture the margin opportunity. So today we are shipping less water, shipping it less often to make more tea at one go. And then it’s a matter of just figuring out a way to stretch that supply throughout the year.

    Every single drop of Evy Tea I engineered from the very get-go. But from now on even scaling to 100 million gallons, the product quality will remain consistent, exactly the same. And the sensory experience is just as, if not better, than when I made you a cup of tea at my tea bar.

    Dan: How will your rebranding and direct-to-customer sales unfold in 2022?

    Evy: I’m not interested in capturing 10 million people next year. That’s a typical play, right, you raise a lot of money, you throw stuff against the wall and see which one sticks, and what doesn’t work, and you move on.

    And that becomes a very data-driven business and very data-driven marketing. I want none of that. I would like to capture people and keep them engaged. I want to keep that person as a lifetime friend because this is a long journey for me.

    I prefer a lower velocity working with our retail partners online and offline so that we can really tell that story and prove that story-centric marketing works.

    I’m looking at it as sourdough starters that I am naturally feeding. This is the best iced tea in the world hands down, I don’t have to sell them on that, all I need to do is to get the product to them and get them interested enough to taste it for the first time.

    Tea is a wonderful ingredient in beverages and food, it has a huge amount of history and culture and a story of humanity within. So why is it being minimized? Why is ready-to-drink tea mainly sugar water? Why are we, in tea, only worth 20 cents a pound?

    Grapes can be sold for $140 a pound. It’s not less labor-intensive, it’s, even more, labor-intensive, right? So why do we do all this work and don’t get the same value?

    “So I’ve done nothing more than simply decide that I’m worth more and that truly is the driver behind this whole rebrand.” – Evy Chen

    The only difference is that we’re not vocal and that we don’t think we’re worth it. Talk to any tea farmers, any distributor anybody you talk to in tea is the most humble human beings on earth, right?

    We’re really nerdy, we’re serious. We truly love this. But who is out there is talking to people drinking tea bags? The perception of value isn’t there. What do we have to do to change their mind? That’s the work we’ve been putting in.

    We need to figure out how to tell the same story in a different way, in a shorter format in a more heartfelt, emotionally filled format, and more truthful format, and throw that against the wall against all the other big companies who are nothing but marketing.

    We need to bring the whole industry into the next century not just the individual entrepreneurs but the entire global community of tea drinkers.

    So I’ve done nothing more than simply decide that I’m worth more and that truly is the driver behind this whole rebrand.



    Evy
    Cold brewed
    Sourced organic, small lot, direct trade
    0 Cal (Unsweetened Green Tea)
    40 Cal (Black Tea Superberry)
    40 Cal (Hibiscus)
    70 Cal (Evy Palmer)
    $27.99 Eight pack 12 oz. cans


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  • Patent Persuasion – Need to Know

    What tea professionals need to start the week —

    Single-serve lawsuits draw a line in the sand… growers of Honeybush in South Africa voice concern over rising demand… AriZona retains its position as the market leader in ready-to-drink tea in convenience stores… Numi introduces single serve tea in RealCups.

    Patent Persuasion

    Numi Organic Tea announced its new single-cup line last week, about the same time Harney & Sons Fine Teas launched their selection of single-cup teas.

    Neither company chose to partner with Keurig Green Mountain which licenses its K-Cup technology to major tea blenders including Lipton, Snapple, Bigelow, Teavana, Twinings, Tetley, Celestial Seasonings and Tazo.

    LOGO_KeurigGreenMountain_replacesGMCRTheir decision is based on economics in part. The largest brands produce K-Cups in huge quantities paying less per cup and can therefore better afford to pay Keurig Green Mountain a royalty of 6.2 cents per cup.

    There is also a principal involved, a line in the sand with KGM on one side facing a growing number of private label manufacturers including California-based Rogers Family Coffee and Toronto-based Mother Parkers Tea & Coffee. Each of these firms packages their own lines in Keurig-compatible non-licensed capsules and packs tea for companies like Republic of Tea (Rogers).

    Since its patents expired in September 2012, Green Mountain has watched its market share erode. Last year unlicensed packs grew from 7% to 14% share of the $3.1 billion single-serve market, according to data from Mintel International. Green Mountain, which once controlled 80% of the market by value, now controls 20% (with another 13% held by Keurig  manufactured Caribou, Newman’s Own and Eight O’Clock coffee).

    Starbucks has sold 2 billion K-Cups in a successful partnership with Keurig dating to 2011 and currently has a 12% share. Folgers (JM Smucker) has 12% share, according to IRI data (which counts grocery, drug store and mass market sales). Last week Starbucks renegotiated its deal with Keurig, striking terms that had prevented Keurig from partnering with other super-premium brands but gaining access to the lower end of the market for brands like Seattle’s Best. Almost immediately Peets Coffee & Tea announced it would partner with Keurig Green Mountain. Peets had previously offered its coffee only in RealCup™ Even though it now faces competition in the premium segment, Starbucks is quite confident it will be rewarded for expanding its offerings. Single-cups are the fastest growing coffee segment and many more homes are going to dump their Mr. Coffee for a pod machine.

    Keurig believes that by developing superior equipment and partnering with companies like Starbucks to insure a large assortment of licensed brands it will win back market share.

    REALCUP(TM) LOGOIn choosing to contract with Mother Parkers Tea & Coffee, Numi joins a growing number of grocery chains including Kroger and Safeway, large manufacturers such as Kraft and Mondelez International, and independent coffee roasters who believe that open competition leads to product innovation, improved quality and greater consumer value.

    On Feb. 12,  TreeHouse Foods, a multibillion-dollar private label manufacturer, filed suit against Keurig, Inc., and Green Mountain Coffee Roasters (collectively known as Keurig Green Mountain) alleging they engaged in anti-competitive acts to unlawfully maintain their monopoly over the cups used in single-serve brewers. A month later The Rogers Family Co. also filed suit alleging Keurig used its monopoly power in the single-serve coffee brewer and coffee pod markets to require its distribution partners to enter into “exclusive anti-competitive agreements designed to maintain Keurig’s monopoly power by excluding competition.”

    In a release announcing the suit, TreeHouse writes that “Green Mountain has announced plans to eliminate the current lineup of K-cup brewers, which function with competitive cups, to exclude competition and force consumers to purchase higher-priced Green Mountain cups. TreeHouse’s lawsuit maintains that any supposed consumer benefits from the new technology are more than outweighed by the harm to competition and consumers by eliminating their choice and forcing them to pay higher prices for Green Mountain cups.”

    “Such an anti-competitive product redesign would force consumers to pay at least 15 percent to 25 percent more for K-Cups, would block consumers from their preferred beverages and would restrain competition,” Oak Brook, Illinois-based TreeHouse said in its complaint.

    Keurig Green Mountain Spokeswoman Suzanne DuLong responded that “We believe these claims are totally without merit, and we intend to defend these lawsuits vigorously.”

    Coffee industry leader Mother Parkers agrees with TreeHouse Foods actions to stop a Keurig® monopoly, according to the company.

    “The patents have expired; consumers have declared that they want choice,” said Bill VandenBygaart, Vice President of Business Development at Mother Parkers. “In our opinion, this action by Keurig as well as the pattern of anti-competitive activities described in the Complaint will continue to hurt the category.”

    Tea and coffee drinkers “should decide which coffee they will brew, not Keurig® or Green Mountain Coffee Roasters®,” said VandenBygaart. “We support efforts to keep the single-serve business open to competition and believe that competition will deliver a better cup of coffee or tea.”

    Numi Co-founder Ahmed Rahim was eager to enter the single-serve business, but it was paramount that the taste he so carefully crafted was present in each cup brewed from a single-serve capsule, according to a press release announcing the decision.

    “I was impressed by the taste delivered by a RealCup™ capsule,” said Rahim. “It was clear to me that the superior taste from the carefully chosen real ingredients used in Numi® Organic Tea’s blends would be found in the teacup and not left behind in the capsule.” In choosing he placed Numi on the “one for all, all for one” side of the line.

    No one wants to lose their monopoly. Keurig Green Mountain aggressively responded to the suit but the company’s decision to erect an even more formidable patent barricade is ultimately going to dampen innovation. In February KGM CEO Brian Kelley unveiled a new Keurig 2.0 brewer that will not work with non-licensed K-Cups. The patent for “intelligent extraction” which depends on a bar-code and radio-frequency ID means that owners will once again be forced to purchase Keurig coffee. It will also thwart the use of refill capsules.

    The reality is that Keurig will find it hard to convince coffee drinkers they must pay for the new brewers through a premium of as much as three times the actual cost of coffee contained in the capsule.  Kelley has promised the technology will produce a better cup of coffee, leading existing Keurig owners to upgrade. Keurig has sold 16 million brewers to date. Installing RFID technology in existing models is not practical. Adding this feature to new less expensive models drives up their cost.

    Keurig may abandon its first-generation brewers but private label capsules are here to stay, as evidenced by the rapid growth of the Hamilton Beach FlexBrew. This non-licensed $49.95 Keurig-compatible brewer in five months is already found in 11,000 outlets. It is outselling Keurig’s comparable K-10 because it not only accepts K-Cups, it accepts refillable cups, has a wire mesh basket for your own freshly ground coffee and will brew European-style filter pad coffee as well as tea pods.

    Keurig 2.0 will certainly offer more features; and with its partners likely make a better cup of coffee. It may well triumph in its niche — but not by unfairly stifling competitive innovation.

    CASE: TreeHouse Foods Inc. v. Green Mountain Coffee Roasters Inc., 14-cv-00905, U.S. District Court, Southern District of New York (Manhattan).

    Source: TreeHouse Foods

    Fast Growth RTD Tea

    While carbonated drinks remain the most widely consumed beverage in America the U.S. Beverage industry reported another year-to-year drop in volume, this time down 1.42% in convenience outlets compared to 2012. In contrast RTD tea is the fastest growing segment of the beverage category.

    SLIDES-RTD_AriZonaTea_greenteaginsengAriZona Tea was the top-selling brand in convenience last year with almost $270 million in sales. Lipton Brisk ($153 million) and Lipton PureLeaf ($125 million) trailed according to data from IRI.

    The biggest growth was Coca-Cola’s FUZE juice fortified with vitamins. Sales increased 250% to $33 million. The bottled tea category generated $1.23 billion sales in convenience outlets in 2013.

    Bottled water showed big gains as soda consumption continues to decline but ready-to-drink tea may be the ultimate victor now that the world’s major bottlers are give it a boost.

    Coca-Cola reported last month that its tea volume grew by 11% last quarter. Sales of Honest Tea are up 25% compared to 2012 and it is now a $100 million brand. FUZE tea and juice blends and Gold Peak shows solid growth as well.

    Market research firm Canadean released its Global Iced/RTD Tea Drinks Report last week noting North America had net volume growth of 74 million gallons (280 million liters). The $5.1 billion U.S. market for RTD tea is expected to increase to $5.3 billion in 2014 with projected growth rate of 6% through 2018.

     “The refreshing taste and perceived natural, healthy image of iced/RTD tea drinks will continue to generate growth and place the category in a good position to take advantage of the slowing carbonates market,” according to Canadean.

    RTD tea is not just gaining customers in the United States.

    Of the impressive 18.7 billion liters forecast to join the market between 2013 and 2018, over 15 billion liters is projected to come from Asia, with a massive contribution from China (as it overcomes its temporary setback) and Indonesia, according to Canadean. “Soft drink categories have continued with healthy double-digit growth, primarily owing to the key categories such as iced/RTD tea drinks and packaged water. The company reports that in Europe most carbonated consumption continued to occur in West Europe (primarily Benelux) in 2012. The region consumes 55% of global volumes but has lost considerable ground to Asia.

    Excessive Demand Depletes Honeybush

    Demand is depleting stocks of Honeybush, a largely wild-harvested South African bush used to make a popular herbal drink.

    SLIDES-INNO_RTD_HoneybushTeaIt has become a popular because of its sweet flavor and it is often praised for its potential health benefits. There are 23 species of Honeybush; several are used to make an herbal beverage. In 1997 the harvest was 27 metric tons but when companies like Tazo, Twinings and Stash offering Honeybush blends in their lineup demand rose to 200 metric tons.

    The challenge is supply.

    Honeybush (Cyclopia sp.) is a legume that grows only in the mountains north of South Africa’s Cape of Good Hope. Honeybush is part of the fynbos biome a habitat that is under pressure similar to that experienced by Rooibos which experienced a three-fold increase in demand. The result was widespread cultivation on land farmed at the expense of other native plant species.

    Richard Cowling, of the Department of Botany at the Nelson Mandela Metropolitan University, cautioned that steps should be taken to prevent mistakes by the Rooibos tea industry.

    “What is required is the mainstreaming of biodiversity and sustainability into the policies and practices of the Honeybush industry at this early stage of its development,” Cowling told the Flower Valley Conservation Trust. This could be done through certification championed by the local industry. Certification could ensure that sustainable veld harvesting guidelines are followed, that cultivation only takes place on old lands and that fair labor practices are met, he said.

    There is very limited commercial cultivation of Honeybush so supply has relied heavily on wild bushes. The small plantations that currently exist are only able to supply 25% of the need. Honeybush traders travel into the mountains and harvest what is to be sold. Concerns have been raised that improper harvesting has damaged the existing supply. Wildfires, droughts, and over-harvesting have now raised serious questions about the plants’ long-term survival. Beginning in the mid-2000s, supply began to drop significantly, just at a time when global demand was increasing. The supply problems pose significant challenges to blending for consistent flavor and appearance and prices have now doubled.

    Currently 15% of the Honeybush produced stays in South Africa. The rest is exported, with 85% of those exports going to the United States and Germany. Honeybush producers worry that the plant simply will not survive and work is now being done to establish nurseries and plantations to grow more Honeybush for commercial use.

    These supply concerns are coinciding with efforts by the European Union and South Africa to assist one another with protecting geographic trademarks for products including Honeybush.

    Neill Coetzee at Cape Town South Africa’s Coetzee & Coetzee (Pty) Ltd. is one such exporter. He identified five species that are commercially utilized. Two are slow growing and mainly wild harvested, he writes.

    One species, Cyclopia longifolia, is “a new kid on the block and showing big commercialization prospects,” according to Coetzee. “This tea is very similar to Cyclopia intermedia (the original honeybush) but grows well in cultivation,” writes Coetzee whose firm trades in natural and organic ingredients, medicinal plants, herbal teas, Rooibos and Honeybush.

    Small quantities of Honeybush are grown on lands from Mosselbay to Oudsthoorn (the eastern sides of the Western Cape province) and on the western side of the Eastern Cape province (Joubertina to Kareedouw). There are two Rooibos plantations situated near Honeybush producers but most Rooibos is grown 200 miles away in the Cederberg Mountains near Clanwilliam, considered the heart of Rooibos cultivation.

    Learn more: South African Broadcasting Corporation

    — — —

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