What’s the Current Price of Ginseng? (Solved & Explained!)

The current price of the ginseng plant is around $500 per pound on average. An average of 250 roots are required to make half a kilo of dried ginseng. The selling price of the ginseng plant is increasing every year. 

The increase in the price of wild ginseng is quite high compared to other types of ginseng. States that aim to produce more ginseng by preventing illegal ginseng harvests also aim for the sustainability of the ginseng plant.

What Are The Types Of Ginseng?

Wild Ginseng

Wild ginseng is one of the most sought after by collectors and therefore one of the most endangered species. 

The main reason for this is illegal collecting whereby ginseng is harvested too early and has not fully matured. 

Wild ginseng can reproduce by seeds on their own, or they can arise from seeds sown by other animals. 

Shady places are indispensable for these plants, which generally prefer temperate climates. These plants are very popular especially in the Asian market, almost resembling the human body with their roots and stems. 

Wild ginsengs are very effective and powerful compared to their other species. This type is widely used in the field of medicine.

In Asia, this wild ginseng is so valuable that even if some people do not use it, they always keep wild ginseng in a corner of their homes as a requirement of their social status.

Woods-grown

Ginseng is especially suitable as bedding for shade persimmons and grows flatter than wild ginseng. Ginseng producers use chemical weed and pest control agents to grow woods-grown ginseng.

Cultivated

Artificial shade is used in cultivated ginseng and fertilizer use is very common. You can come across cultivated ginseng in many states of America on ginseng farms.

What Are The Factors That Threaten The Existence of Wild Ginseng?

The fact that the habitats required for ginseng are being destroyed daily by the developing anthropogenic industry is one of the most important factors in the failure of these plants to maintain their continuity. 

Environmental Factors

This problem is caused by natural and human destruction and arises from the fact that people harm nature consciously or unknowingly. 

Pesticides, factory wastes, and environmental pollution and all factors that play a part in the disappearance of ginseng’s wild habitat.

The conditions are getting worse day by day, posing a danger not only for ginseng species but also for many living things.

With the change of climates, global warming, air pollution, and damage to vegetation, living things are disappearing day by day and they are erased from history before the continuity of the generation can continue. 

Overharvesting

In addition to all these, one of the biggest problems is overharvesting. Unconscientious harvesting is unwittingly endangering the continuity of the generations of ginseng.

One of the biggest reasons for this is the early collection of immature ginseng plants in order to make a quick profit. 

While early harvest destroys the stability of the plants, it also undermines the land in which future ginseng may seed and flourish.

Poaching

Another factor is poaching. Illegal hunters, who harvest the crops without any legal permission. Often, they collect the plants regardless of the age of the plants and sell them at very cheap prices. 

They are also known to steal ginseng plants from legitimate farms.

Slow Maturation

Slow maturation is another factor that affects the ginseng population. Ginseng plants are known to mature very slowly and need at least 5 years to reach adulthood and become able to reproduce.

Some ginseng can take even longer than 5 years. Patience is very important here. Because raw, immature ginseng produces bad crops and is not able to become beneficial for the continuity of the species.

How Much is Wild American Ginseng Worth?

The United States is one of the countries where the ginseng plant is frequently found. You can find wild ginseng in many states in America. 

America sends most of the ginseng it produces to China and Hong Kong. In addition, ginseng is among the herbs that are widely consumed in the United States. 

Sales of wild American ginseng roots average $30 million annually.

How Do I Sell Ginseng?

You can deliver the ginseng you grow to the buyers in many ways. The first of these methods is to sell to the buyers fresh from your yield at wholesale. In this way, you can earn a lot of money by selling your products almost immediately.

Whole Sales

What you need to do is to make a sales transaction by making a list of the companies that you will sell wholesale, either through the companies’ web addresses or by calling them by phone. 

Offering them a bulk discount will make the offer more attractive, however, since your products are fresh you will not need to bid too low.

Direct Selling

Another method is to make one-to-one sales by reaching out to the customers directly. This way, you can safely sell your ginseng however this takes longer than whole selling.

If you are a local producer and want to sell your ginseng in the surrounding districts, you can also take your ginseng to local markets. Local markets are places where many products reach the buyer directly. 

Export

Finally, you can apply the interstate or international export method. You can safely deliver your products to the buyer by taking advantage of the existing laws designed by the states to ship internationally. 

This is of additional cost as you will need to work with transportation companies, but you can charge more for your products than wholesale.

Is it Legal to Sell Ginseng?

The sale of ginseng is restricted under certain laws. In order to sell a ginseng plant, that plant must be at least 5 years old. It is illegal to sell and harvest ginseng plants under this age limit. 

Those who sell and harvest this plant are punished with an administrative fine. It is also illegal to harvest ginseng plants growing on state land. 

These plants are under the protection of the state, and can only be harvested in a controlled manner during the seasons permitted by the state.

The ginseng plant is taken under protection by the states to ensure the continuity of the species.

Thousands of ginseng plants are destroyed every year due to early harvesting and improper harvesting, and sustainable ginseng cultivation cannot be realized.