How much is a pound of ginseng root worth?

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.

Why is ginseng root so expensive?

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.

How can you tell how old ginseng is?

The age of a ginseng plant can be determined by counting the number of stem scars on the rhizome. Each year of plant growth adds a stem scar to the rhizome when the leaf stem dies back in the autumn.

What is the selling price for ginseng?

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.

How many wild ginseng roots make a pound?

30 to 100 dried roots will generally make a pound of ginseng.

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.

Can I grow ginseng in my backyard?

Environment. Ginseng grows best in a warm, moist environment, so if you live in a colder area you’re going to have a hard time growing this cash cow of a plant. Thankfully, it’s a hearty plant, so if you install a greenhouse on your lawn, or build a growing room in your home you can easily grow ginseng all year round.

Can I legally grow 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.

How many ginseng roots does it take to make a pound?

Thirty to 100 roots will equal one pound of dried ginseng.

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.