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Farm News: Ginseng Price Nearly Doubles

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Posted: 10.19.2010

It's not been an easy year for Wisconsin ginseng growers - but the market may repay their efforts.

This week, international buyers for the valuable root crop are in Wisconsin from China, Hong Kong, Singapore and U.S. coastal locations - all focused on Wisconsin's top quality ginseng crop.  Part of the higher price that these buyers are willing to pay is hinged to the overall value of the dollar - and also, based on the spring struggles that the ginseng crop faced.

Heavy wet snow surprised many Wisconsin ginseng growers this spring.  Shades that are actually designed to protect the crop from sun - collapsed on the crop itself. That meant rebuilding the structures and hoping no crop damage resulted. 

Wisconsin's ginseng price this year is estimated at $40 a pound for the premium product versus $27 last year.  Wisconsin's ginseng is sought after by buyers from around the world for its potent quality.  Wisconsin consumers that purchase their ginseng in a commercial drug store might be surprised to know that lesser quality ginseng is usually in those packages - and it usually comes from Asian countries.

Marathon county accounts for most of the ginseng grown in Wisconsin - and the states crop accounts for 95 percent of ALL ginseng produced in the nation.

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