WNC price check today: now $275 dry, versus $225 a couple weeks ago. Not even remotely thinking of selling mine at that price. I think it will have to break $600 per dry pound before I think about selling. We will see. Anyone have any prices this week?
$250 per pound here in East Tennessee as of Tuesday. It doesn't look like the market will take off any time soon according to the dealer I spoke with. Hong Kong is still sitting on large amounts of ginseng that they cannot get smuggled into China, and the Chinese are not even buying like they used to. The Chinese want the ginseng, but due to the economic downturn (China is even more affected than we are) many cannot afford to buy very much right now.
The bad news is that prices will not go up very much if any at all since there is currently an over supply. One large dealer in KY is sitting on 2000 pounds of dried ginseng that he currently cannot move. If the global recession lasts into next year, which it should, I would wager that it will be hard to sell any ginseng NEXT fall for more than $400 per pound, if that. The dealer I spoke to seems to be very knowlegable and is constantly on the phone, getting the current market value. If their is no rise in prices next year, we all may have to bite the bullet and sell at lower prices.
I dont think many will have to \"bite the bullet and sell\" we will \"bite the bullet and NOT sell\". We will just sit on it. I dont depend on \"selling my ginseng\" each year to make a living. All it is is play money for me. This world market, in all facets, will bounce back eventually...it always does. The more I think about the price, demand, bla, bla, bla for sang right now, it sounds like the strategy for us diggers is just to \"hold\" our ginseng for now, price will be up there again someday. I have discussed this with my thoughts and I told my thoughts \"guess ya will not play as much this year\". Suppose to be cold and snowing anyway. Cant wait to start diggin' next year though and dig more than I did this year! Gonna have a pile of this stuff. Love diggin it, Love huntin' it, Love bein' in the woods.
Hi Sangman, I like the way you think. If the price doesnt go up we can spend more time planting more sang for when the price goes up!!! Some good news is in my neck of the woods fur prices are up.It has been really great talking to and learning from each one of you.I learn something new each time I log on.Thanks again for all of you that share..
What do ya say Steeltrap,,,,gotta love that fur prices are up, I dont hunt but if I did I would like to see what I hunt.....UP! We all have to remember this world is full of ups and downs, and if I recall all the down times I've been through have led to up times and it is bitter sweet. Just like when we go out in the woods and maybe only find a few plants, or game, in a 3-4 hour slot, we come home and are very depressed, but we wake up the next day and BAM we are ready to go huntin' for it again. And most of the time we find a good mother load. Booya.
I guess what I was trying to say about biting the bullet is that we don't know how long the recession will last, and I am not sure how long exactly you can keep ginseng before the color starts to change and the quality starts to drop off. I have heard 5 years, but I do not know if that is true. I know I have kept it for 2 years without the quality changing any. I too am sitting on mine, and if enough people start sitting on their ginseng then it will cause a spike in the market, hopefully late next year.
fur prices UP where at...I coonhunt 2 coonhounds and run a couple hundred trap's and every buyer I'v talked to say's everything is DOWN...one buyer is not accepting any yotes and no beaver's..another buyer say 's unless thing's change he won't be buying after x-mas....A fellow I know who work's for nafa.told me yesterday that 2 of the 5 major garment plants in Greece closed their door' for good...the fur market is as bad as the sang market...