TOPIC: Update on ginseng prices?

ManRoot wrote:

I have wondered why that southern root is so dang cheap. My conclusion is I think it's flooding the market. KY harvest is well over 20,000 lbs annually, compared to MN that harvests 3,000 lbs annually. You guys dig too much, and that brings the value down. Simple law of supply and demand. My MN roots bring top dollar because the 3000 lbs that is dug here is highly sought after, versus the 20,000 lbs of KY root that is easy to get.

Do you mind to provide a source for this data? While I am unable to provide specifics, I can say with good reason this is not Kentucky's avg harvest. Maybe it was decades ago, as all states have a greater harvest, but that is not a typical annual harvest figure.

Also you can pull the CITES document and look at the harvested pounds per state, and look at the number of roots per dry pound. IN is like 586 roots in a dry pound vs. Iowa is like 243 roots per dry lb!

just my opinion, might not be right but it makes sense.

Do you mind to provide a link to this document? You can always email me directly, if you don't want to post here. Would love to take a look at it myself.

Sure no problem nothing to hide, it's an easy to find public document on the internet but here's the link to the FWS CITES page. you can choose which CITES doc (year) to view back to 2000

http://www.fws.gov/international/DMA_DSA/CITES/plants/ginseng.html


I do admit that the 20,000 number is wrong. I did over exxagerate. KY is the highest exporting state though. The average number of roots per pound data is on page 19 of the 2011 document.
http://www.fws.gov/international/DMA_DSA/CITES/pdf/2010wild-simulatedginseng.pdf

I don't know maybe our dealers up here are just behind, and paying too much too~ who knows it's a commodity, and gets bought and sold like one, so it's up and down depending on local market supply and demand.

Sorry for posting incorrect data, hopefully these CITES docs will be useful to some of you. It is interesting reading.

Page 9-10 #'s 42-48 discuss the individual state harvests. # 44 is KY & TN

I think we have already discussed the more likely reason that some state's ginseng is valued higher than are others or particular sections within a state. Quality. That's it. No more no less. If all quality were the same, then supply and demand would have a more basic effect. As it is, supply and demand must be broken down withing quality ranges.

For instance, I live in the section of the state with the poorest quality ginseng. However, I buy most of my ginseng from other areas. The stuff that grows around here is worth less than the stuff that grows a couple hours southeast in the edge of the Appellations.

Does anyone know price of ginseng in eastern KY????????????????? Is anyone able to say ----it's gonna go higher

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or drop????? A whole of of dealers are saying same thing!!!!!!! I can't help,but wonder if they have made a pack.......... I've called 8-9 buyers in my surrounding counties and they say the exact same thing

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how do they know what each other is paying?!!!!!!! Does anyone agree???? Wonering in KY..........

kygirl wrote:

A whole of of dealers are saying same thing!!!!!!! I can't help,but wonder if they have made a pack.......... I've called 8-9 buyers in my surrounding counties and they say the exact same thing

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how do they know what each other is paying?!!!!!!! Does anyone agree????

Well, could it possibly be they know what they can sell their ginseng for (this would be the market value), and they don't want to pay more than they can make a little profit on, and at the same time, they don't want to pay less than their competitors?

I don't know, maybe they are just telling you the honest truth?

Let me ask you this Kygirl, how much ginseng do YOU have to sell this week? How about next week? Next month?

Thanks, most of that document I have read, just not the back pages! Not enough hours in the day.


I wasn't sure if you had actual raw numbers. I know Kentucky's data in and out, but always looking for new sources of info to make sure I'm not missing anything. The findings are good pieces of info and the folks that work on it are good people.

BCastle wrote:

I think we have already discussed the more likely reason that some state's ginseng is valued higher than are others or particular sections within a state. Quality. That's it. No more no less. If all quality were the same, then supply and demand would have a more basic effect. As it is, supply and demand must be broken down withing quality ranges.

For instance, I live in the section of the state with the poorest quality ginseng. However, I buy most of my ginseng from other areas. The stuff that grows around here is worth less than the stuff that grows a couple hours southeast in the edge of the Appellations.

I don't think it's that simple. Sure soils and other growing conditions are going to impact it. The dark rich soils in the Oh valley are obviously fertile. Remember, KY has some of that fertile soil in that area, too. Kentucky has quality root, not just quantity. A big problem is digger education, which the managing agency will have a greater push on this for harvesters starting next year.

And on that, if diggers couldn't sell the poor root (the broken up ones, smaller, etc), ie if the market talked, that would help Kentucky's ginseng reputation, too. And yes, I get a little defensive about Kentucky root. It's what I'm paid to represent.

Thanks to this forum and others on the web and the increased knowledge from state officials, you will see better quality root coming out of Kentucky.

kygirl wrote:

Does anyone know price of ginseng in eastern KY????????????????? Is anyone able to say ----it's gonna go higher

---

or drop????? A whole of of dealers are saying same thing!!!!!!! I can't help,but wonder if they have made a pack.......... I've called 8-9 buyers in my surrounding counties and they say the exact same thing

---

how do they know what each other is paying?!!!!!!! Does anyone agree???? Wonering in KY..........

KYGIRL, unfortunately no one has a magical crystal ball to know how the prices are going to be. It can change day to day even hour to hour. Unfortunately, right now it's not hot and the market is very slow.

I can tell you in a season like this one, the quality and handling of your roots is very important. I'm probably preaching to the choir, but here's my 5 cents.

Five years is the MINIMUM age of harvest. Most folks that call me looking for dealers want 20+ year old roots. Then, it gets into harvesting and post harvest handling. Where you careful in digging up the roots? Did you break of the neck or all the root hairs? Heaven help if you chopped the root off with your digging tool or punctured it.

Next, how did you wash it? Is it too clean? Did you scrub with a tooth brush? Did you wash it soon enough or did the dirt dry on it?

How did you dry it? In the oven, microwave or in the window of your car? Did you break it up to help it dry faster?

All of these things devalue your product. Some years, you can be by with it. Not this year. Quality is king right now.

BCastle wrote:

kygirl wrote:

A whole of of dealers are saying same thing!!!!!!! I can't help,but wonder if they have made a pack.......... I've called 8-9 buyers in my surrounding counties and they say the exact same thing

---

how do they know what each other is paying?!!!!!!! Does anyone agree????

Well, could it possibly be they know what they can sell their ginseng for (this would be the market value), and they don't want to pay more than they can make a little profit on, and at the same time, they don't want to pay less than their competitors?

I don't know, maybe they are just telling you the honest truth?

Let me ask you this Kygirl, how much ginseng do YOU have to sell this week? How about next week? Next month?

THIS.