Market values The average price paid for the 2019-20 season was $550 per pound for dry and $160 per pound for green. It takes almost 300 roots to make one pound of dry ginseng. “That’s a lot of roots,” she said.
Why is growing ginseng illegal?
The root of the ginseng plant has been coveted for thousands of years as a natural curative. Because the slow-growing plant is destroyed to harvest the root, those who illegally harvest ginseng can face stiff fines or imprisonment.
How much is a pound of ginseng roots?
roots per pound ranged from 298–528 roots per pound over the past 10 years. This study uses the 10-year average of 388 roots per pound, or approximately 25 pounds per quarter-acre, as the baseline scenario. Harvesting, washing and drying.
How much do ginseng roots sell for?
Prices paid for ginseng root also vary greatly by production method. Field grown ginseng produced under artificial shade sells for between $10-$25/dry lb. while wild and wild-simulated root has averaged around $350/dry lb for the past 10 years (in 1999 it was bringing $425/dry lb).
Is wild ginseng worth money?
The roots can fetch as much as $500-$1,000 per pound. The harvest of wild ginseng is illegal, but the high price opens up a black market to the plant.
Why is wild ginseng so valuable?
There are two reasons its so expensive. Some Chinese people believe ginseng roots are good medicine – even an aphrodisiac. They think roots that lived in a nature for a long time are much more potent than farmed ginseng, which costs a tiny fracture of this amount. It’s an investment commodity.
Is it illegal to grow your own ginseng?
It is illegal to harvest American ginseng roots on most State lands and all National Park Service land. Some U.S. Forest Service National Forests issue harvest permits for wild ginseng while other National Forests prohibit the harvest of ginseng.
Is it profitable to grow ginseng?
Growers can make a solid income from even a small space, as well. For example, a half-acre planted in ginseng will start producing seeds in the third year. At the current prices, a half acre garden could produce $100,000 worth of seeds and roots over a six year period, or over $16,000 per year.
What is the biggest ginseng root ever found?
A ginseng root weighing 0.92 kg (2 lb 0.5 oz) on 1 July 1999, was grown by Don and Joy Hoogesteger (both USA) of Ridgefield, Washington, USA.
How much is an acre of ginseng worth?
The ginseng market varies from year to year, but when the price is high it’s possible to net up to $50,000 per acre. There is one drawback: it takes from five to 10 years for the roots to reach a marketable size.
Who do you sell ginseng to?
There are three main ways to sell ginseng roots. First is to sell directly to wholesale buyers. This gets you paid right away, and you can sell right out of your backyard nursery. Second is to sell to out-of-state buyers.
Where does ginseng like to grow?
Ginseng is native to hardwood forests of North America, from southern Canada (Ontario and Quebec), west to South Dakota and Oklahoma, and south to Georgia. It usually grows in well-shaded areas (especially north- or east-facing slopes) of moist hardwood forests.
What does wild ginseng sell for?
The price of wild ginseng roots has climbed in the last decade. Now domestic buyers pay $500 to $600 per pound compared with about $50 per pound of cultivated roots. Law enforcement officials say the prices have pushed people looking for quick money into the woods.
What is the most expensive ginseng root?
The most valuable grade is “wild” ginseng. Known by its gnarled, striated appearance, and often decades old, it’s considered the most potent and is most coveted by buyers. Thirty-year-old wild root brings in several thousand dollars a pound.
Why is older ginseng better?
Ginseng plants begin flowering in their fourth year and the roots can live for hundreds of years after maturing at 4–6 years of age. The older the root, the higher its medicinal value because of the higher concentration of ginsenosides, which are the active chemical compounds in ginseng3,4.
What’s the difference between wild and cultivated ginseng?
Wild roots are generally small in size and light in weight. The cultivated roots are cream colored, smooth and fat, and exhibit few concentric growth rings. Cultivated roots are cream colored, smooth often large and heavy with few concentric growth rings.
How long does a ginseng plant live?
Each year of plant growth and die off adds a stem scar—a knobby ring—to the rhizome, so a five-year-old plant will have four stem scars on the rhizome. Some ginseng plants can live more than fifty years.
What is illegal about ginseng?
You can only harvest from ginseng plants that are 5 or more years old. These are plants that will have at least 4 bud scars on the top of their roots. You can only do the harvesting during an officially designated state harvesting season. You need to have permission to harvest ginseng on land that is not owned by you.
How long is ginseng season?
» The harvest season for wild ginseng begins on Sept. 1 and ends Dec. 31 of each year. Wild ginseng cannot be harvested from Jan.
Is ginseng a good investment?
In fact, it can take about five or six years until your roots are mature enough to sell. Don’t fret, while you’re waiting for that, you can make good money selling seed and rootlets, which are possible to sell after just a couple years. A half-acre of ginseng can be worth as much as $100,000 after five or six years.
What is the most profitable crop per acre?
Herbs and Spices Goji Berries. Cherry Tomatoes. Arugula. Microgreens. Gourmet Mushroom. Bamboo. Bamboo is one of the most profitable crops to grow per acre. Corn. Corn, also known as maize, is a staple food in America and across the world. Wheat. Wheat is one of the most commonly known cereal grains.