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American Ginseng History | Print |  E-mail
Article Index
American Ginseng History
Page 2

In recent years significant increases of cultivated ginseng grown under artificial shade have occurred primarily in British Columbia  and Ontario, Canada. Ontario  alone in 1997 reported more then 2,000 acres and British Columbia  has close to 1,000 acres. With an average yield of 2,000 pounds per acre, an additional 6 million pounds per year are being harvested in North America since the late 1980's. China  is also becoming a major producer of American ginseng with at least 250 acres in production in 1987 (Proctor 1987) and, most likely, much more by 1997.

The effect of this huge increase in supply has had a predictable effect of the price of cultivated ginseng. During the mid 1980's Wisconsin ginseng farmers were receiving between $40 and $60 per pound depending on quality. By 1997 prices had dropped to $10 to $15 per pound.

It is interesting to note that while the price paid for field cultivated ginseng has dropped dramatically in the past 10 years, the price for wild or woods cultivated ginseng has risen just as dramatically. In 1985 wild ginseng in New York state sold for approximately $180 per pound . In 1995 the price was $500 per pound and in 1997 the average price was in the range of $300 to $400 per pound.

In summary, it is safe to say that the price curve for ginseng since the 1800's resembles a roller coaster, reflecting not only supply and demand but many other factors, not well understood.

Goldenseal also has a long history of collection and exploitation. As early as 1884 and 1885 Lloyd and Lloyd noted dramatic declines in wild populations, partially due to over-harvest, but also due to loss of woodland habitat (Foster 1991). In 1904 prices ranged from 74 cents to $1.50 (Harding 1972). Harvest data is generally unavailable from the early years but Harding (1910) quotes "reliable dealers" as estimating the harvest at between 200,000 and 300,000 pounds per year with less then 10% being exported. Foster (1991) reports "there are no figures to determine current supply and consumption of Goldenseal. However, supply shortages and gluts with their attendant price fluctuations have been experienced in the past decade, just as they were 100 years ago."

It is interesting to note that goldenseal was used by many tribes of eastern native Americans far more then ginseng for many different maladies and was considered a much more useful plant. On the other side of the world ginseng was, and still is, considered the "King of Herbs". This important distinction is responsible for the continuing large demand for high quality ginseng while goldenseal, despite it's known pharmacological properties, does not command similar interest.



 
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