I am a maryland licensed ginseng dealer looking to buy ginseng in Maryland. As you are all aware, I am looking for wild ginseng that is preferrably 30+ years old. But 15+ would do fine but price would be a bit lower. It's cash and carry, or mail-in small quantities pending trust. I don't know what others are paying, but I am staying a bit above the market price, with preference for green ginseng. Please click on my name, e-mail me and let me know what you have available during season. Thanks.
Lets see...I'd say 250-300 this issue of FFG. I'd start with $350-400 dry, more for older roots. Not exactly sure what the conversion factor for green would be. What do folks out there use for conversion from green to dry? 1/4 of price?
It usually goes like this, at least where I'm from.
It takes 3 pounds wet to make one pound dry. So let's say you're giving 400 for dry. The guy I always sell to takes off 20 per pound if it's wet.
So, 400 for dry minus 60($20 for each pound wet it takes to make one dry) so we have 340 divided by 3 equals about 115 for wet.
I don't know if that is the formula he uses but it always comes out close to that.
Last year the price here peaked at 360 and my buyer was giving 100 for wet. when it went to 280 he was giving 75. So this is a pretty close conversion.
Thanks for the confirmation. I think various dealers use versions of the 1/3 -1/4 formula. I think it would be fair or decent to offer say, a straight 1/3 of the dry price for greens. That would be 115-130/lb for older greens for me.