Limited Supply and Rising Prices: Impacts of Heavy Rain on Medicinal Plant Market in Longxi, Gansu

February 14, 2024

Due to the heavy rain last night in Longxi, Gansu, there is a smaller supply in the market today. The prices remain the same as the previous batch, relatively stable, and the trading volume is moderate. The price of Astragalus membranaceus is 7.5 - 8 RMB/kg for hairy strips, 10 - 13 RMB/kg for second-grade strips, and 25 - 30 RMB/kg for Astragalus membranaceus pods. The wholesale price for Codonopsis pilosula is 46 - 52 RMB/kg, and 50 - 60 RMB/kg for small strips. This year, the prices of medicinal plant seedlings in Longxi, Min County, and Zhang County are generally higher than in previous years, coupled with the continuous increase in labor costs, which has lowered the enthusiasm of farmers for cultivation. Compared to last year, farmers have increased the number of seedlings for medicinal plants, but the overall planting intensity has decreased. There is a trend of rising prices for medicinal plants in the later period.

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