In Fusong county of Jilin, about 35,000 metric tons of fresh ginseng were traded at Changbai Ginseng Market in 2014, Asia’s largest for the root. The volume accounted for 80 percent of the country’s ginseng market. China’s ginseng exports declined 36 percent to 1,207 tons in 2014 while the value increased 14 percent to $137 million over the same period. Local farmers in Fusong have an average annual income of around 43,000 yuan, four times the national average, said Hou Yubing, director of Fusong Ginseng Industrial Development Center…Full Article: ECNS.cn Mar 2016

Key Points

  • In 2015, China’s ginseng industry totaled US$2.9 billion in sales (by volume)
  • In 2012, China’s Ministry of Health, aka National Health and Family Planning Commission, allowed ginseng to be used as a food additive in food production in order to boost demand.
  • Ginseng can be used to produce cosmetics (via ginseng peptide), ginseng tea, pills, and ginseng-flavor drinks.

ChinaAg Comments

  • In 2014, Wisconsin produced ~700,000 pounds (~318 MTs) of ginseng, of which 80% (~255 MTs, US$10 million to the mainland and US$15.6 million to Hong Kong) was exported to China.
  • In 2013, the Ginseng Board of Wisconsin and China’s Beijing Tong Ren Tang Health-Pharmaceutical Co Ltd signed an agreement that Wisconsin would supply China with US$200 million worth of certified ginseng.
  • In 2008, China produced approximately 44,749 MTs of ginseng (largest amount globally), while neighboring South Korea produced 27,480 MTs in 2009. Japan, North Korea, USA, Canada, and the EU also produce ginseng, though in smaller volumes.

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