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Ginseng In Third World Countries

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Herbs are used for all sorts of health and body care products along with culinary purposes. An herb farm could supply herbs to pharmaceutical or cosmetic companies as well as directly to the consumer. The world market for herbs is volatile with prices as low as a dollar per pound for some herbs to more than one hundred dollars a pound for others (USDA Department of Agriculture, 2012). Political situations in some third world countries where herb production is typically found can cause shortages and wide price fluctuations (USDA Department of Agriculture, 2012). Increasing commercial harvesting in the United States could decrease our dependence on imports. This could lead to a decrease in the costs of dietary supplements and other natural remedies that are becoming …show more content…

Prices were $150- $300 a pound for woods grown dried ginseng last season (TNA Wild Ginseng CO, 2015). It is usually found wild in moist soil with 75 to 80 percent of available sunlight on a gentle slope forest bed (Persons, 1983). A small scale startup would require ten pounds of ginseng seed at a cost of $800 (TNA Wild Ginseng, 2015). Planting can be done by hand with minimal tools. If fallow land is available utilizing it for a business endeavor is a way to pay for the taxes and startup costs associated with planting ginseng. Granted a payback from the ginseng may not be for six to ten years, but once established little attention will need to be paid to this crop other than replanting a new seasons crop and harvest. Having alternative herbs and non-traditional crops cultivated at the same time will take away the risk from investing in only one crop. In order to farm certified organic herbs obtaining a piece of land that has not been farmed with pesticides for 10 years without homes on it in West Michigan may be the hardest part of my business

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