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| Goldenseal Market Glut |
Answered by: Richard Alan Miller
Question from: [Name withheld]
Posted on: September 01, 2004
I live outside a small town in Ontario, Canada. My wife and I grow goldenseal and ginseng on a small scale. We like the idea of growing goldenseal but what is discouraging is finding more buyers for the goldenseal. we dug 2 years ago and sold it last year. We talked with about 10 different companies sent samples to about 5 of them they said it was fine but only one has ever asked for the root. My question is, is the market flooded or is the demand for goldenseal as medical herb just dying out?
Also I read your reply to Rita Kaller back in 1998 and I would also be interested in this Annual Buyers Directory for future contacts. I do have more questions about the herb industry I would like to talk to you about, but this is enough for now. Looking forward to your reply.
The market for all botanicals is still somewhat soft, probably picking back up to normal levels in February, 2005. There was a glut of goldenseal root harvests this year, but the prices range from $38 to $50 (U.S.) for a COG (certified organically grown) forest farmed crop. There is little market for the herb.
There is the possibility that imports are now taking their toll. Frontier and other buyers have begun to offer contracts for specific amounts to be farmed (under specific guidelines). Watch out for the "fine print" with these opportunities. Notorious for loop-holes. COG is important for this crop.
I probably could recommend other alternatives. You may call or write, as time allows. How else can I help you?