TOPIC: Update on ginseng prices?

I couldn't agree more. Though don't pay attention to our username, our first year and we actually have almost 8 pounds of great quality roots, with the majority between 20 and 50 yrs old. So we wait and if we don't see a lot of change in price we won't sell. We just might be one of the healthiest diggers next year because we'll eat every last one. Hey, we might even publish a new recipe book. Maybe even add a new forum on this site if asia isn't going to give the right price. Even though we're new to digging, I've had more than one rock tumble down the hill at me that my husband kicked loose. We've slid more than a few feet down the hill while either digging or hunting. And even though I don't have a clue the total hours were spent walking on hills sideways with nothing to show for it, we've had an incredible time and seen some of the most beautiful woods. So price goes up or not we'll not sell for anything less than the price we think we should get. So good luck to everybody.

notmuchseng wrote:

we'll not sell for anything less than the price we think we should get. So good luck to everybody.

Just out of curiosity, what price would that be??

BCastle wrote:

notmuchseng wrote:

we'll not sell for anything less than the price we think we should get. So good luck to everybody.

Just out of curiosity, what price would that be??

BCastle, I was thinking the same thing.

I think anywhere close to $500 for good average root is an EXCELLENT price.

hey Brad how did that info I gave work out for you?

This year I was offended to be offered these stupid low prices, so I got my dealer license. I'll sell on ebay and average $$$$ a pound, takes time, but I'm not getting ripped off by the greedy buyer's union any more! I offered 675 to a guy for real premium 30 year old plus and he said no, so I have no idea what it's worth to him, or any of you. guess it depends on the guy who dug it. IN MY OPINION Any TRUE wild ginseng is worth more than 500 a pound, less than 500 is an insult. IMO $650 is the minimum price TRUE wild ginseng should bring.

now i'm sure some of you are digging woods grown that was planted by some1 along the way and you either know it or not. BUT woods grown is not the same as wild, and that should bring 400-500, which is magically the price big dealers are giving diggers for wild. So beat your buyer up a little harder, demand MORE MONEY FOR IT, or don't sell. stop selling your seng so f'in cheap and it will drive the price up. SIMPLE ECONOMICS, Law of Supply and Demand.

I agree with you that we shouldn't sell until we hit that \"magical\" price...The only problem is that many of us has a much higher magical price than some of these guys selling for under $400....I think that is crazy.

really you have to wait all summer to dig it so why not wait a little longer to get what its worth

Well, all the unjustified and unsubstantiated comments aside, there is no Kellys Blue Book of ginseng. There is no $XXX price at which a given lot of ginseng is worth.

I sure wish I could sell my car this way. I mean think about this a second. You put an ad in the paper for a 2005 car. Someone calls because they are interested. They come look at your car and say \"I like it, its got some issues, but I'd like to give you $5000 for it.\" And, you tell them \"No, you are going to give me $8000 for it.\"

...so they say \"Gee, ok\" and give you eight grand automatically because they don't have a CHOICE in the matter. After all, you are setting the selling price right?

But...what happens when they say \"I will not pay $8000 for a car I am only willing to pay $5000 for because it has issues or I can only $5200 out of it when I resell it.\" You decide to keep it. You pay to store it. You pay to insure it. And, each year it gets older and older and is not worth as much as it was when you originally tried to sell it. Yet, you didn't get taken advantage of did you. You're the man alright. You showed that greedy SOB not to mess with you ...how dare he insult you by only offering you $5000 for YOUR car!

In the real world, you cannot made someone buy something they don't want, or make them buy something they want for more than they are willing to pay. You most certainly cannot make someone pay more for it than they can get when they resell it. THAT is the real reality of the situation kids.

Manroot,
First of all I do not know of a buyers union. Local buyers often do not converse with other local buyers. Local buyers in or near your hometown are buying ginseng as low as possible while trying to stay competitive. They are taking a huge risk when buying and can make money or lose money depending on what they buy it for and sell it for.

If ginseng is selling for $500 the local buyer is not making that much on it. If one thinks it is worth $650 s pound then you are going to have to play the market. Maybe it will go up to $650 and maybe it could go down to $400. Who really knows where it will end up at on any given year. All one can do is make an educated guess based off of research and indicators and speculation.

Sell your ginseng at a fair price and be happy with it. Don't worry if it goes up $50 bucks a pound the day after you sell it. It could go down $50 bucks the day after you sell it too.

Large brokers may know more than local buyers, but local buyers are in the business to have repeat customers and are not out to screw anyone typically. My buyer I used to sell to is still in business after 40 years and his prices are around $500 per pound. So if you think your seng is worth $650 then I guess you will have to risk waiting it out.

All I know is it is risky business and since when is $500 a pound a bad price anyway.

I hope you get top dollar for it but I never looked back when I sold mine. I sold it for a fair market price at the time I sold it and no one has a crystal ball on prices.
Latt

Well said Latt,

I still remember the 08 year and I'm still stinging from it. 09 didn't bounce back the greatest but I didn't loose.

This year I bailed out early and glad of it. A bird in the hand is worth 2 in the bush.

rootman

If the price is not what you want what is wrong with waiting? Everyone wants to sell at the highest price, since I have been keeping up with ginseng, over 25 years, the price usually does not peak until Thanksgiving or Christmas, some years not until the first of the year. There is an occasional year that it peaks early, I can only remember 1 year that it did that however. I have sold early but that was only because I needed the money at the time. This year I don't need the money and will wait it out until the first of the year or the next if necessary. You can wait until March 31 to sell, after that date you will have to wait until the following fall. Ginseng will keep for years, the best way I have found is to place in a box after fully dried, then in a plastic airtight bag and freeze.
The Chinese set the price and I am sure they want to buy at as low a price as possible, but by the time it gets to the consumer there is a considerable markup so it is in their interest to buy as much as they are able to sell.
I am grateful that the Chinese provide a market for our ginseng, as I am sure they are grateful that America provides them with a market for about every manufactured item you can think of.