What is the price of ginseng roots per kilogram/pound in US today?
The retail price range for US ginseng roots is between US$ 169.36 and US$ 1,800.44 per kilogram or between US$ 76.81 and US$ 816.52 per pound(lb). Click here to see today's exact prices of ginseng roots in US
The retail price range in Euro for ginseng roots is between EUR 155.37 and EUR 1,651.78 per kilogram or between EUR 70.46 and EUR 749.10 per pound(lb) in Washington and New York.
In 2023, the approximate wholesale price range for US ginseng roots is between US$ 118.55 and US$ 1,260.31 per kilogram or between US$ 53.76 and US$ 571.57 per pound(lb).
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US Ginseng Roots Export Prices - Historical, Trends and Prediction
The export price per kilogram of Ginseng roots from the US has seen a steady increase over the last five years. In 2017, ginseng price was 69.45 US dollars per kg, which rose to 95.55 US dollars per kg in 2018. In 2019, the ginseng root price was 92.07 US dollars per kg, and in 2020, it was 64.09 US dollars per kg. The price then increased to 90.57 US dollars per kg in 2021, and 107.12 US dollars per kg in 2022. Based on this trend, it is predicted that the export price per kilogram of Ginseng roots from the US will be approximately 111.17 US dollars per kg in 2023, and 127.72 US dollars per kg in 2024.
US Ginseng Roots Import Prices - Historical, Trends and Prediction
The import price per kilogram of Ginseng roots into the US has seen a steady increase over the last five years. In 2017, the price was 69.45 US dollars per kg, which increased to 95.55 US dollars per kg in 2018. This was followed by a slight decrease to 92.07 US dollars per kg in 2019, before dropping to 64.09 US dollars per kg in 2020. However, the price has since recovered to 90.57 US dollars per kg in 2021 and 107.12 US dollars per kg in 2022. Based on this trend, it is predicted that the import price per kilogram of Ginseng roots into the US will be around 115.00 US dollars per kg in 2023 and 122.00 US dollars per kg in 2024.
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Export values for US ginseng roots
The total values in export for ginseng roots in the US were US$45,023, US$39,993, US$46,282 and US$38,771 in US dollar thousand for the years 2019, 2020, 2021 and 2022 in that order.
How to buy ginseng roots in the US
When planning to buy ginseng roots, start by making a decision on whether you want to buy green (wet) or dry ginseng roots. Green simply means that the roots have just been freshly harvested and actually have water in them, whereas dry means that the roots have been dehydrated.
According to the West Virginia Division of Forestry, one pound of green or wet ginseng will typically dehydrate to approximately a third of a pound of dry ginseng roots. This means that to make one pound of dry ginseng roots, you need 300 wet roots!
So as you can imagine, the prices vary drastically depending on whether you want to buy green or dry ginseng roots. Obviously, the ginseng price of dry roots is definitely way higher than the price of wet roots, normally by about 3 times or more.
For starters, ginseng roots are mainly differentiated according to how they are grown. These are the main categories:
Wild: The priciest of them all, grows naturally without human intervention in temperate climate forests. Some buyers love to use this type as a sign of their social status.
Wild simulated: Planted by growers in woods without preparing the land or using chemicals
Woods-grown: Planted by growers in woods, involves preparing the bed and chemicals may be used.
Cultivated: Planted in typical modern cultivation style.Involves preparing the beds, using fertilizers, irrigation, etc
When purchasing, it’s important to ask the seller to clarify which of the above varieties they are selling.
Americans have practiced wild-grown/wood-grown ginseng tradition for 200 years. During this time, they have come to discover that transplanted roots do best. Nowadays, however, it is hard to come by wild roots to transplant due to park restrictions.
Seed for wild-simulated/woods-grown ginseng costs anywhere between $85 and $160 a pound. Land preparation and seed growth in an acre may end up consuming $33,000 per half acre or double that figure per acre.