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.
Wholesale prices
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.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.
Prices of other produce in the Tubers category in US: Seed Potatoes, Potatoes, Cassava, Sweet Potatoes, Yams, Taro (Arrowroot), Licorice roots, Chicory roots & Cocoyam.
See prices of ginseng roots in other countries across North America: Canada ginseng roots, US ginseng roots, Anguilla ginseng roots, Antigua and Barbuda ginseng roots, Bermuda ginseng roots, Bonaire, Sint Eustatius and Saba ginseng roots, St.Pierre and Miquelon ginseng roots, United States Minor Outlying Islands ginseng roots, Cayman Islands ginseng roots & Greenland ginseng roots.
US ginseng roots - Production, Exports, Imports, Seasons and HS Codes
The quantity of ginseng roots shipped by US in 2020 was 623 metric tons. In 2019 US exported 496 tonnes of ginseng roots. For the year 2019 alone, the interest in US ginseng roots (tubers category) has shrunk, changing by -6.238 per cent compared to the year 2018. Between 2017 and 2019, ginseng roots' exports decreased by -37.61 percent netting the country US$44.94m for the year 2019. US' ginseng roots exports are categorised as:
- Ginseng roots, fresh or dried, whether or not cut, crushed or powdered (HS code 121120)
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US ginseng roots export values
In 2019, US supplied ginseng roots valued at 44.94m USD, a reduction of -11.09% from 2018's total ginseng roots export of 50.544m USD. The annual change in value of US ginseng roots between 2017 to 2018 was -8.681 per cent.
The yearly variation in the quantity of US' ginseng roots exports between 2017 and 2019 was -37.61 percent in comparison to a variation of -6.238% in the period between 2018 and 2019.
US' stake of the world's total ginseng roots' exports in 2019 was less than 1%. The country holds position 24 in world exports of ginseng roots.
Export markets for US ginseng roots ( in '000$ )
Import/Export Trends
US is a net importer of ginseng roots. The annual growth of US ginseng roots in value between 2015 to 2019 was -11%, per annum, while annual growth in quantity through the same period was -24%, per annum.
US purchased 273 tonnes of ginseng roots in 2019.
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.