HONG KONG, Feb 26 (AFP) --
Hong Kong has become the arena for an ongoing battle among Chinese, Korean and American exporters seeking a bigger slice of the lucrative ginseng trade in the territory, market sources say.
"The competition is getting bitter, but American ginseng is obviously taking the lead, because of its aggressive marketing strategy," one of the sources said.
"The American white ginseng appeals more to the younger generation," because it is milder in strength than ginseng from other countries and therefore can be consumed more frequently, he said.
Ginseng is popular as a general tonic for sexual stamina, strength and longevity, as a cure for many diseases, including heart, lung and liver ailments and menstrual disorders and is said to improve the complexion.
According to a recent report by the Asia Market Intelligence Trade Research Unit (AMI), American ginseng is becoming increasingly popular in Hong Kong, Taiwan, China, South Korea, Japan and among Chinese living in other countries. Ginseng imports from the United States increased by 43 percent between 1992 and 1994, AMI said.
Traders of the valuable root say they expect 1995 sales growth to have increased by more than 10 percent over the previous year, but the full figures are not in yet.
Seventy percent of the ginseng that made its way to Hong Kong was re-exported, mainly to China, Taiwan and southeast Asian countries, they say.
In 1994, Hong Kong imported about 3.2 million kilograms (7.04 million pounds) of ginseng , amounting to 1.4 billion Hong Kong dollars (181 million US), or 4.3 percent of world consumption, according to Hong Kong trade department statistics.
Chinese ginseng , which is grown near China's northeastern border with Korea, accounted for 1.5 million kilograms (3.3 million pounds) of Hong Kong's total imports in 1994, down from 2.1 million kilograms (4.62 million pounds) in 1993. The US ginseng exports, mainly from the north Midwestern state of Wiscoonsin, rose from 700,000 kilograms (1.54 million pounds) a year earlier to 900,000 kilograms (1.98 million pouhnds) in 1994.
Imports of ginseng from Canada also grew from 400,000 kilograms (880,000 pounds) a year ago to 500,000 kilograms (1.1 million pounds) in 1994, while those from Korea rose to 200,000 kilograms (440,000 pounds) in 1994 from 100,000 kilograms (220,000 pounds) in 1993.
A valuable commodity, ginseng retails at 1,000 dollars to 2,000 dollars per kilogram (2.2 pounds), depending on its age and quality.
BY : Peter Lim
SOURCE : Agence France-Presse
1996. 02.
|
Newsdesk