American ginseng sales valued at $27 million.
In 2009, the foundation funded a research project to quantify the economic value of wild American ginseng in comparison to the economic value of timber over the same geographic area and time. The project culminated in a research article titled "Understanding the Relationships Between American Ginseng Harvest and Hardwood Forests Inventory and Timber Harvest to Improve Co-Management of the Forests of Eastern United States," published in the journal of Sustainable Forestry. The article estimated the annual wholesale value of American ginseng is approximately $26.9 million compared to annual stumpage value of harvested hardwood timber of just more than $1.27 billion.
In addition to defining the value of wild American ginseng, the article identified where ginseng is reportedly harvested; illustrated the spatial distribution of the wild harvest; demonstrated the clear relationships between hardwood forests of eastern U.S. and ginseng harvests; and helped develop a more comprehensive valuation of U.S. forest resources.
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|Title Annotation:||Industry News|
|Date:||Sep 1, 2013|
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