Selling this fall

[alex]

Would one of you be able to give me a rough estimate later in the year on the quality of my roots? I could post pictures. Our season opens in a month, I'm hoping to dig a few lbs this year.

I usually dig mostly 3 prongs. Plenty of 4's and a one or two fives usually. I'm just wondering if this is the quality of root that I'd heard prices for earlier. I haven't dug since 2004. Our buyer had always offered us less than 300 per lb back then.

[Brad]

Hi Alex,

Welcome to the forum.

I would be happy to provide my opinion of your ginseng.  As a buyer, digger, and grower, I can tell you that not all three prong plants are ready to harvest.

Look for the largest roots -a good indicator is the thickness of the stems.  Stems the size of a pencil or bigger are where I start.  Gently loosen the dirt until you can see the root, and if it is larger in size go head and dig it.  If it turns out to be a medium size root, just cover it back up.

Ginseng sells on an open market.  Some years are higher and some not so high. 

[timbo]

I know it's not good to hold over roots , but do people generally hold back for the last minute hoping the price will go up? I imagine that curing/drying the last roots of the seasons roots wraps up 5-6 weeks after closing day so thats when buyers start getting real busy? Oh Brad C , got your book , very informative. I think it will come in handy. My only complaint.... too short. I finished it already.

[Brad]

LOL  thanks.

Well, the issues with holding root over from one season to another is multifaceted, the least issue not being that it is a legal nightmare.

Some seem to think that holding roots will get them a better price.  However, this isn't always the case.  Good, high quality roots are in demand.  When the price gets higher, lesser quality are generally graded harder and discounted deeper.  And don't forget, nothing is worth more than someone is willing to pay for it.  Ginseng is a market commodity.  When the price gets higher, the demand lessens. 

This year, I anticipate the market starting in the $550 range for solid Ohio ginseng.  I don't know for sure yet, however.  The problem with a strong market early is that if the prices rise quickly, the buyers are more likely to stop buying or refuse to buy at higher prices once they have what they require for the year. 

For instance, if you need 4 barrels of ginseng and want to pay about $500-600/lb.  However, the price rises strongly.  You buy your four barrels at an average of $750/lb.  Now, are you going to keep buying at $750 and higher?  NO!  You are going to start backing off the prices.  You are now looking to buy four barrels of the same quality for about $450 or less so your average over the 8 barrels will be $600/lb or less.

When you begin backing off the prices, the buyers in the country will have to back off their prices to lower dealers and diggers also.  No one can stay in business if they pay as much or more for something than they can sell it for.  So if my international buyer is only willing ot pay about $650/lb, I would be stupid to pay over $600-620/lb.