Tumbling prices have left the traditional Chinese medicine industry in poor health. Finding the cure will not be easy. Oversupply, poor planning and increased competition threaten to send the sector into a summer slump. Wholesale prices for pseudo-ginseng, codonopsis and chrysanthemum have all fallen, plunging the industry into what experts describe as a recession. High-quality pseudo-ginseng, a health supplement, was selling at 900 yuan ($145.17) a kilogram in 2013. Now it is down to 350 yuan a kg, while lower grade products trade at 115 yuan a kg. “The market may keep going down for a while,” a report by the Kangmei Chinese Medicinal Material Price Index, one of the leading traditional medicine index systems in China, said…China Daily June 2015
- In 2013, sales in mainland China of Chinese traditional medicine was approximately CNY 120 billion (~US$19.3 billion).
- Founded in 2006 and established in Beijing, Chengdu World Network Information Technology Co., Ltd (zyctd.com) is the world’s largest Chinese traditional medicine (CTM) market information site. In 2012, the company launched its e-commerce platform. As of late 2013, the company at 26 brick-and-mortar branches located across China.