DRY GINSENG PRICES - DISCUSSED I am having this discussion to help my diggers understand the vast differences in market prices. Many of you have asked me about these things. So here is a detailed explanation for all of my friends. Prices are not something that dealers can easily post on public media sites. It is better to ask for prices in a private message because prices very so much state to state. Let me explain why every state is different in what the ginseng is considered to be valued at and one season varies from another in value. If we give our states price to a person from another state it could in fact mislead them to what we could give them. For example I can not give as much for AL: seng as I can for KY: because KY: is of more value in the market. Now lets discuss this more to better explain. Ohio West VA: and North Carolina wild ginseng is some of the most valuable.The root is light in weight compared to many other roots. A light root is preferred to the dry market above all other roots. These three states will consistently have the highest valued root every season. Excluding of course New York. I have several good friends that are dealers in these three States. One is a dear friend and visits me here in KY and we go on hunts together every season that we can work it into our schedule. I have never sold him a root from here although he loves my ginseng My personal buyer can afford to pay me more than my friend can for it. and yet still his root in his home state is paying him more than what my buyer can pay me here. Is my good friend being unfair with me ? NO certainly not if he could he would pay me the same as others in his home state of course, but he has got to resell it and make a profit to. Well then what is the difference ? Lets say Ohio dealers are paying $700 a pound dry, then KY: TN: VA: will be around $625- $650 and that will because of the Asian market not because of the dealers in those 4 states. It is not us dealers that sit the price over here it is them over their. Now with this same thought in mind while Ohio is at $700 North Carolina may be at $675 to $725 and West VA: may be at $$700 to $750 it is a vast market difference and is based on what the Asian market considers the seng to be worth to them and no one else and every state is even different to them. One of them top 3 states may even be at $775 at this same time period. It is not just because a root is 10 years plus or if it is 2 ounces 4 ounces all of the dry ginseng is used in there mind as one root to that main group of buyers. There is another group now, but this is the main group of different buyers over their and includes at least 80 o/o of all exported ginseng or higher. Larger Dealers like me we may become friends sometime or another and we may work together in some off roots etc. and in those roots trade could be very easy for us, but since wild ginseng is so different it can be hard for us because of these reasons. West VA: wild dry ginseng is considered in a different class of quality than mine is in my state and most likely a dealer from there could not pay me any more than he could his diggers maybe not even that at times simply because he could not sell the certified dry ginseng from KY: for what he could the more coveted West VA: ginseng because of its light weight and quality that these buyers love. When I was a younger dealer I was asked prices by many people from many different states and some would be like wow im getting ripped off and others would be well my buyer is paying $50 a pound more than you can. The reason was because every state is different in what they can sell the ginseng for from their state. For example I may be able to offer a Ky/Tn/Va digger $50 a pound more for their ginseng than I could a AL/MIS digger and I may be able to offer a West VA/OH/NC digger $75 more per pound than I can a KY/TN/VA digger. Any one who knows me at all knows that I am good as I can be to our diggers in both the wild and dry markets. My prices have not been beat in my local areas in 3 years. It is not because I like Ky seng better than Al seng or that I prefer WV/OH/NC above KY seng. It is because that is the way that the Market works. If I bought seng from KY and tried to sell it for OH seng then I would not only be breaking the law but I would be lying and misleading my buyers who trust me. No business will operate long with dis honesty and not loose. I wanted you all to understand the full truth. So if you here about others making less or more than you are understand that your local dealer may not be evil as many think they are the truth is they have a buying guide and if they pay to much they can not make it. Now if they are a lot under other local dealers then my advice would be to move on, but if they are competitive with other local dealers then they are doing their best for you in your area and you can not fairly compare them to dealers in another state. It took me a few years to get big enough in this business after retiring from my roofing business to understand why their is so much difference in so many places. However now I have learned and know and I have shared it with you all with my diggers and any one who wants to know the truth. So now I ask every digger to message me and other dealers privately on prices for ginseng. Then I can ask you where you are from before I quote you a price. I can also learn if you are closer to a good dealer that I know and if I can possibly save you money by introducing you to them. I have learned that a quick answer is not always a good answer concerning wild ginseng. I hope that this has answered some of the questions and that helps you all to understand a little more about the root that we so love and enjoy. God bless. Billy.
Posted on: Sat, 08 Feb 2014 23:15:59 +0000