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.
Is there a market for ginseng?
Lingering in the woods, poachers are ripping roots for the booming market where ginseng can reach up to $500–$1,000 per pound. The medicinal herb is primarily sold in Asia, where it has been historically used as an energy booster, aphrodisiac and health tonic.
What is the going price for ginseng?
DNR records indicate that over the last 10 years, annual wild ginseng prices have ranged from $250 to $880 per pound, with an average annual price of $483 per pound. The baseline price used for this analysis is $480.
Who buys ginseng in New York?
Catskill Mountain Ginseng Co is a licensed ginseng dealer who buys and sells wild ginseng. We offer the highest buying prices in New York State and we are always sure to be cordial, honest and fair with our diggers. We have been digging for over 30 years so we understand the time and work that goes into it.
Is it easy to sell ginseng?
You can earn extra cash growing ginseng quite easily. Ginseng is not a particularly hard herb to grow, but it does take some time to learn how to grow ginseng. After about five or six years your ginseng roots will be ready to sell. In the meantime you can sell ginseng seed and rootlets to make an extra income.
Is it illegal to dig up 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 much is wild ginseng per pound?
One pound of ginseng seed currently costs around $50 and is enough to plant 1600 square feet or about 1/25 of an acre using the wild-simulated method described in this fact sheet. There are roughly 6,400 to 8,000 ginseng seeds per pound.
What time of year do you dig ginseng?
Collect the wild ginseng only during harvest season that is September 1 through November 30. If you want to ensure future ginseng plants, always plant the seeds near the harvested plant.
How much can I sell ginseng?
After a few years of growing ginseng, you should have about 100 pounds of seed each year for every half-acre of ginseng you’ve planted. That same space of land should have about 500 pounds of roots, which are selling for $300 to $600 a pound.
Can you make money selling ginseng?
Patient growers will love the profits you can make from mature ginseng roots. After the sixth year you should mature roots ready to sell. In a half-acre of land, you should able to produce several hundred pounds of roots. At that price, you could make well over $100,000, all just from your mature roots.
Why is ginseng so expensive?
American ginseng is expensive due to a number of factors including rarity, length of maturation and high demand in China, according to Smithsonian Magazine. Many Chinese believe wild ginseng has better therapeutic properties than domestically grown plants, which increases the price per pound.
Is it legal to sell ginseng?
Harvesting of “wild” ginseng is legal but only during a specific season defined by your state. It is also illegal to dig ginseng for export if the plant is less than 10 years old (CITES regs). The season is usually the autumn months and requires you to be aware of other federal regulations for harvesting on their lands.
Where can I sell ginseng?
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. Take good care in shipping your ginseng.
Who buys ginseng in Kentucky?
A “dealer” in Kentucky means any person or agent of an entity buying ginseng for resale or export. Under 302 KAR 45:010 E Section 2 “Dealer License Requirements,” no person shall purchase uncertified ginseng for resale or export unless they possess a ginseng dealers license.